The currency pair US dollar to Canadian dollar USD/CAD continues to move within the limits of growth and at the moment quotes are testing the area of 1.3425. There is a potential for falling to the support area near the level of 1.3390, where again we should expect the continued growth of quotations of the Canadian dollar. In favor of the fall is the formation of a reversal Forex model.
USD/CAD Forecast Canadian Dollar on April 7, 2017
The failed swing on the relative strength indicator, however, at the moment of the uplink support test on the RSI indicator, one should expect a rebound and continued growth of the pair USD/CAD. Canceling the option of continuing the growth of the pair will be a fall and breakdown of the area of 1.3320, indicating that the pair will continue to decline.
Among the important news from Canada, which can have a strong impact on the Canadian dollar rate, it is worth highlighting, the unemployment rate, as well as the change in the number of employed.
USD/CAD Forecast Canadian Dollar on April 7, 2017 involves trying to test the area of support and continuing growth to the area above 1.35, a breakdown will be a breakdown of the lower border of the upward channel with the closing of the pair’s quotes below 1.3320 area.
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