The currency pair Canadian dollar against the US dollar USD CAD finished the trading week at 1.3310. The pair was able to show a rebound from the rising channel’s lower border, indicating that the attempt to continue the growth of quotations in the area above the level of 1.35.
USD CAD Forecast on January 23, 2017 — January 27, 2017
Cancellation option will be the development of an upward movement drop in prices USD/CAD below the level 1.3050, which will indicate the breakdown of the support and the continuation of the fall to below 1.2750. Even with the breakdown at the level of 1.35 resistance area, is expected to try to continue the growth of quotations in the region of 1.38.
Among the important news from Canada on the next trading week, which may influence the course of the currency pair USD CAD stands out, Change of wholesale trade volume 23 January 2017, is expected to decline from the level of 1.1% to 0.3%, which could put pressure on the Canadian dollar.
USD CAD Forecast on January 23, 2017 — January 27, 2017 suggests an attempt to continue its growth with a view on the level of 1.35, the cancellation option will sample the lower boundary of the channel, which indicates the continuation of the fall en.
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