Currency pair Canadian dollar to US dollar USD CAD continues to move within the upward channel and the bullish 1:1 model, which indicates a potential rebound from the lower boundary and the continuation of growth to the area above the level of 1.3550.
USD/CAD Forecast Canadian Dollar on March 16, 2017
In favor of the variant of growth is the test of the ascending trend line on the indicator of relative strength. The cancellation of the growth option for the USD/CAD pair will be the breakdown of the 1.3420 area, which will indicate the outflow and the attempt to fall below the area of 13250.
Among the important news from Canada that may have a strong impact on the Canadian dollar rate, Foreign securities, a slight decline is expected from the level of 10.23B to the level of 9.45B.
USD/CAD Forecast Canadian Dollar on March 16, 2017 suggests a rebound from the bottom of the uplink and continued growth with a target above 1.3550 area, the cancellation will be a breakdown of the lower border of the channel, which will indicate a decline to the area below the level of 1.3250.
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