The currency pair USD/CAD US Dollar to Canadian Dollar continues to move within the upward trend and at the moment there is a potential for a fall in the pair’s quotes to the bottom of the rising channel at 1.36. Where can we expect a rebound and continued growth of the pair USD/CAD in the area above the level of 1.37.
USD/CAD Forecast Canadian Dollar on May 1, 2017
In favor of the growth of quotations will perform a tight test of the support line on the indicator of relative strength. Canceling the option of continuing growth will be the fall and breakdown of the 1.3540 area, which indicates that the quotes will continue to fall below 1.3450.
Among important news from Canada, which can have a strong impact on the Canadian dollar, it is worth highlighting the PMI index for the manufacturing sector (adjusted for seasonality) from the RBC.
USD/CAD Forecast Canadian Dollar on May 1, 2017 suggests an attempt to continue growth after a tight test of the lower limit of the uplink with a potential growth target above 1.37, a drop and a breakdown of 1.3540 will be a cancellation.
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