The currency pair Canadian dollar against the US dollar USD CAD continues to move in the uplink, and was able to show a rebound from the bottom of the channel, as well as from the support area. We should expect the attempt to increase pair USD/CAD quotes to the upper boundary of the descending channel at the level of 1.39 in March 2017.
USD/CAD Forecast Canadian Dollar March 2017
The values of the relative strength indicator also allow this growth and at the moment of the test line is the potential for a rebound and the fall of the Canadian dollar quotations. Also, do not rule out the formation of the descending pattern forex, 5-0, and with the test area 1.39 pair can turn around and continue with the aim of reducing the level below 1.23.
In the case of the breakdown level of 1.30 is expected to accelerate the USD/CAD growth in the area above the local maximum level.
Among the important news from Canada that may have a strong influence on the Canadian dollar in March 2017 the course of the year, we should mention, unemployment rate, Employment Change March 10, 2017.
USD/CAD Forecast Canadian Dollar March 2017 suggests an attempt to continue the growth of the pair of quotes in the area above the level of 1.39 as a continuation of mining the rising pattern of 1:1, the cancellation option will drop and the sample area 1.28, which indicates the completion of the growth and the start of reduction.
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