Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the bearish channel. It is worth waiting for an attempt to breakdown the upper boundary of the descending channel and continue the growth of quotations of the pair. In favor of growth, a breakdown of the bearish resistance line on the indicator of relative strength index (RSI).
USD/CAD technical analysis on June 2, 2017
The cancellation of the growth of USD/CAD quotations will be the fall and breakdown of the area of 1.3380, which will indicate the continuation of the pair’s decline. Expect to accelerate the growth of quotations of the US Dollar to Canadian Dollar USD/CAD is with the breakdown of the area of 1.3520.
Among the important news from Canada, which can have a strong impact on the USD/CAD, is the following: Trade balance, it is expected that the indicator will change slightly from the level of -0.1B to the level of 0.0B.
USD/CAD technical analysis on June 2, 2017 suggests an attempt to break the upper boundary of the downward channel and continue the growth of the pair’s quotations with the target near the 1.36 area, canceling the growth of the pair will be the fall and breakdown of the 1.3380 area.
