Currency pair US Dollar to Canadian Dollar USD/CAD closes the trading week with a decline at 1.3470. The pair continues to trade within the rising channel. It is worth waiting for an attempt to tight test the lower border of the channel and continue the growth of the pair USD/CAD with a potential target above 1.37 area.
USD/CAD forecast on May 29, 2017 — June 2, 2017
In favor of the growth of the pair is the test of the support line on the indicator of relative strength index (RSI). The cancellation of the option of continued USD/CAD growth will be the breakdown of the 1.3350 area, which will indicate that the pair’s quotations continue to decline.
Among the important news from Canada on the following trading week, which can influence the rate of the currency pair USD/CAD is worth highlighting:
May 31, 2017, Wednesday, Change in GDP.
USD/CAD forecast on May 29, 2017 — June 2, 2017 suggests a rebound from the lower boundary of the upward 1:1 model and the pair continues to grow above 1.37.
