Currency pair Canadian Dollar to US Dollar USD/CAD continues to move within the forex pattern «Wedge». It is worth waiting for the text of the local minimum level and the beginning of growth in the area above the level of 1.36.
USD/CAD forecast & technical analysis May 23, 2017
In favor of growth of quotations of the pair USD/CAD, the formation of the reversal model will act “Failure Swing” on the indicator of relative strength index (RSI). The cancellation of the pair’s growth option will result in a drop and breakdown at 1.3480 level. Expect to accelerate the growth of quotations is with the breakdown of the upper limit of the forex pattern «Wedge».
Among the important news from Canada, which can have a strong impact on the Canadian dollar, is worth highlighting, the change in the volume of wholesale trade.
USD/CAD forecast & technical analysis May 23, 2017 involves an attempt to return the quotations inside the forex pattern «Wedge» and start growth with the first target at 1.3630, the breakdown will be the breakdown of the 1.3480 area.
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