The currency pair Canadian dollar against the US dollar USD CAD continues to turn again. At the moment, there is potential for release quotes the descending channel, with a potential upside target level above the 1.33 area. In favor of a growth in the Canadian dollar quotes appears breakdown of the descending trend line on the indicator of relative strength.
USD CAD forex forecast on January 10, 2017
But do not rule out an attempt to reduce to below the level of 1.3230 in the framework of the completion of the formation of topping model Forex Head and Shoulders. Expect faster growth of quotations of the currency pair USD CAD is a breakdown of the 1.3270 area, which points to the breakdown of the neckline is a reversal pattern. Cancellation option will drop in prices below the level of 1.3150.
Among the important news from Canada that may have an impact on the rate of USD CAD tomorrow, January 10, 2017, stands out, volume of new construction, it is expected the growth rate to the level of 184K to a level of 195K, as well as building permits are expected to decline from the level of 8.7 % to 2.4%, which could put pressure on the Canadian dollar.
USD CAD forex forecast on January 10, 2017 suggests an attempt to turn a breakdown field of 1.33 in mining within a broken trend line on the indicator of relative strength, the cancellation option will drop in prices below the level of 1.3150.
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