The currency pair US Dollar to Canadian Dollar USD/CAD continues to move as part of the development of the bullish model of the Wolfe wave. The growth target is the area at 1.31. In favor of growth of quotations of the pair USD/CAD is the breakdown of the downward trend line on the indicator of relative strength index (RSI).
USD/CAD forecast & technical analysis on July 12, 2017
Cancellation of the growth option will be a fall and breakdown at the level of 1.28, indicating that the pair will continue to decline. Expect to accelerate the growth of the pair is with the breakdown of the level of 1.2950.
Among the important news from Canada, which can have a strong impact on the Canadian dollar, is the following: Publication of the Bank of Canada’s monetary policy report, Bank of Canada’s decision on the main interest rate, is expected to raise the rate to 0.75%, the Bank of Canada, Press conference of the Bank of Canada.
USD/CAD forecast & technical analysis on July 12, 2017 suggests an attempt to continue growth with a potential growth target above 1.31, an additional signal is a breakdown of the resistance line on the indicator of relative strength index (RSI), the cancellation will fall below the level of 1.28.
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