The currency pair US dollar Canadian dollar USD CAD continues to move within the framework of a strong upward trend and at the moment there is still a potential for continuing the growth of quotations in the area above the level of 1.36. However, we should not exclude the attempt to continue the growth of quotations of the pair from the current levels.
USD/CAD Forecast Canadian Dollar on March 10, 2017
In the case of development of a downward correction one should expect a tight test of the lower boundary of the ascending channel and the continuation of the growth of the pair. We continue to hold our purchases and increase the volume of long positions in the pair USD/CAD. The cancellation of the growth option of the pair will be the breakdown of the support area 1.3350, which will indicate the continued development of the fall.
Among the important news from Canada, which can have a strong impact on the Canadian dollar rate, it is worth highlighting, the unemployment rate, the change in the number of employed.
USD/CAD Forecast Canadian Dollar on March 10, 2017 suggests an attempt of minor correction and continuation of the pair growth, however, we should not exclude the breakdown of the resistance area from the current levels, which will indicate the continued growth in the area above 1.40.
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