The currency pair Canadian dollar against the US dollar USD CAD continues to test a tight ascending channel’s lower border 1:1 model. We should expect a rebound attempt and the beginning of the upward movement on the pair with a potential target of the growth of the Canadian dollar quotations above the level of 1.3650.
USD CAD forex forecast on November 23, 2016
Cancellation option will drop in prices pair below 1.3330, it will point to the sample and the support and the lower boundary of the channel and the continued decline in the area below the level of 1.32. In favor of continued growth also appears tight test rising trend line on the Relative Strength indicator, which indicates the potential growth already from current levels.
USD CAD forex forecast on November 23, 2016 suggests the beginning of a rebound and growth within the mining bovine model 1: 1 in order to rise above the level of 1.3650.