The currency pair Canadian dollar against the US dollar USD CAD continues to move in the growth and now firmly testing the resistance area, which indicates that the risks of a pair of correction. However, in favor of the continuation of the growth is the test of the broken trend line on the indicator of relative strength. The immediate goal of growth of the Canadian dollar quotations of the area at the level of 1.35.
USD/CAD Forecast Canadian Dollar on March 7, 2017
In the case of the breakdown level of 1.3350 is expected to continue to reduce the rising channel’s lower border, where once again we can expect a rebound attempt and growth of the pair. We continue to hold a large portion of purchases of the Canadian Dollar and try aggressive transaction breakdown resistance.
Among the important news from Canada that may have a strong influence on the Canadian dollar, we should mention, the PMI index from Ivey, expected slight growth rate to the level of 58.9, and a balance of external trade balance.
USD/CAD Forecast Canadian Dollar on March 7, 2017 suggests an attempt to increase to 1.35, the cancellation option fall camp and the breakdown of the level 1.3350, which will point to the decline in the area of the ascending channel’s lower border.
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