The currency pair of the Canadian dollar to the US dollar USD CAD went into the development of correction, but at the moment the quotes of the pair are testing the area of the lower border of the rising channel. We should expect an attempt to rebound and continue the pair’s growth within the framework of upgrading the upward Forex 1:1 model with a potential growth target above the level of 1.3550.
USD/CAD Forecast Canadian Dollar on March 17, 2017
In favor of growth is the test of the support area on the indicator of relative strength. The cancellation of the option will be the breakdown of the area of 1.3250, which will indicate the continuation of the decline to the level of 1.31.
Among the important news from Canada, which can have a strong impact on the Canadian dollar rate, it is worth highlighting, the change in the volume of production supplies.
USD/CAD Forecast Canadian Dollar on March 17, 2017 suggests a rebound from the bottom of the upward Forex 1:1 pattern and the continuation of growth in the area above the 1.35 level, cancellation will be a breakdown of the lower boundary of the rising channel.
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