The currency pair Canadian dollar against the US dollar USD CAD ends trading week of serious decline near the lower boundary of the rising channel at 1.3240. At this point the potential for rebound stored quotations pair and continued growth within mining bovine FX 1:1 model with a potential target area at a level above 1.38.
USD CAD Forex Forecast on January 9, 2017 — January 13, 2017
Cancellation option will drop in the Canadian dollar quotations of the rising channel’s lower border with a close below 1.31 area. In favor of a growth of quotations USD CAD dense stands the test rising support line on the indicator of relative strength, indicating that growth has attempted from the current levels.
Among the important news from Canada on the next trading week, which may influence the course of the currency pair USD CAD is to provide, indicator of expectations in the sphere of credit and financial institutions, according to the Bank of Canada January 9, 2017, change in the volume of building permits issued January 10, 2017 as well as on housing in the primary market price index 12 January 2017.
USD CAD Forex Forecast on January 9, 2017 — January 13, 2017 suggests a rebound attempt and the beginning of growth in the area above the 1.38 level within the mining rising forex 1:1 model, the cancellation option fall camp quotes couples and breakdown of the rising channel’s lower border, that point to a continuation of the fall of the Canadian dollar.
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