The currency pair Canadian dollar against the US dollar USD CAD finished the trading week at 1.3150. Couple again testing the lower boundary of the rising channel, and at the beginning of the new trading week, we should expect a rebound attempt and continued growth of the Canadian dollar quotations in the area above the level of 1.34.
USD CAD Forecast on January 30, 2017 — February 3, 2017
In favor of a growth in USD/CAD quotes favor the formation of forex model failure swing on the indicator of relative strength. The next upside target is the area at a level above 1.36. Cancellation option price growth fall camp pairs and breakdown below 1.2950, it will point to the continued decline in the area below the level of 1.27.
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 GDP January 31, 2017, it is expected that the rate will not change, as well as the speech of the Bank of Canada Stephen Pauls speech on February 1 2017.
USD CAD Forecast on January 30, 2017 — February 3, 2017 suggests an attempt to increase in the rebound from the rising channel’s lower border with the immediate goal of growth at the level of 1.34 and the second goal at the level of the local maximum in the vicinity of the area of 1.35.
