The currency pair Canadian dollar against the US dollar USD CAD continues to develop growth within the breakdown of the upper limit of the downward channel. The purpose of growth is the area at a level above 1.3550 area. In favor of a continued growth of quotations of the Canadian dollar appears rebound indicator of relative strength from the support line.
USD CAD forex forecast on December 23, 2016
Cancellation option will drop the pair quotes in the area below the 1.33 level. Among the important news from Canada that may have an impact on the quotes of the pair USD / CAD, stands out, Change of GDP, is expected to decline from the level of 0.3% to 0.1%, which could put additional pressure on the pair.
USD CAD forex forecast on December 23, 2016 suggests an attempt to continue growth within mining punched channel width in order to increase above the level of 1.3550.