The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the upward correction. It is worth waiting for an attempt to test the resistance level and lower quotations in the area below 1.2500. In favor of falling quotations of the Canadian Dollar is the resistance line test on the indicator of relative strength index (RSI).
USD/CAD forecast & technical analysis on August 31, 2017
The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the area of 1.2640, which will indicate the continued growth of the pair with a potential target above the level of 1.2760.
Among the important news from Canada that can influence the Canadian Dollar rate, it is worth highlighting: GDP volume change, the indicator is expected to fall, which may put pressure on the rate of the pair USD/CAD, GDP change for the quarter on an annualized basis.
USD/CAD forecast & technical analysis on August 31, 2017 suggests a resistance level test and continuation of the decline with a potential target at 1.2500, an additional signal will be a trend line test on the relative strength indicator (RSI), the cancellation of the pair USD/CAD decline will be strong and breakdown at 1.2640 level.
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