The currency pair Canadian dollar against the US dollar USD CAD continues to move in the uplink and currently the pair were able to show a rebound from the bottom of the channel. We should expect the attempt to continue growing in the area above the level of 1.35.
USD/CAD Forecast Canadian Dollar on March 23, 2017
In favor of the growth comes the formation of an inverted Forex Head and Shoulders pattern on the display relative strength. Cancellation option will drop the pair rises and the breakdown field of the rising channel’s lower border, which points to a potential test of 1.3220 area.
Important news from Canada, which may have an impact on the USD/CAD rate, is not expected, so the pair will continue to move within the technical analysis of USD/CAD.
USD/CAD Forecast Canadian Dollar on March 23, 2017 suggests an attempt to increase in the rebound from the border gentle ascending channel with a potential upside target near the region of 1.35.
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