Currency pair Canadian Dollar to US Dollar USD/CAD continues to move within the rising channel. At the moment, the pair is testing the area of the lower boundary of the bullish channel, which may indicate a rebound and continued growth USD/CAD in the area above the level of 1.3750.
USD/CAD forecast Canadian Dollar on May 18, 2017
In favor of the growth of quotes the Canadian Dollar to US Dollar is the test of the support area on the initiator of relative strength index (RSI). The cancellation of the pair’s growth option will be the fall and breakdown of the 1.3550 area, which will indicate the continued decline currency pair USD/CAD on Forex.
Among the important news from Canada, which can have a strong impact on the Canadian Dollar, is worth mentioning: Foreign Securities Purchases.
USD/CAD forecast Canadian Dollar on May 18, 2017 suggests an attempt to rebound from the lower border of the rising channel and continue growth to the area above the level of 1.3750, the cancellation of the growth of the pair USD/CAD on FOREX will be fall and breakdown of the area of 1.3550, which will indicate the continuation of bearish trend.
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