Currency pair US Dollar to Canadian Dollar USD/CAD closes the trading week near the level of 1.2590. The pair continues to move within the bearish channel. It is worth to expect an attempt to correct the correction to the upper boundary area near the level of 1.2680 and further continue the decline of the pair below the level of 1.2450.
USD/CAD weekly forecast on July 24 — 28, 2017
In favor of the upward correction is the test of the support area on the indicator of relative strength, as well as the formation of the Wedge model. The abolition of the continuation of the fall will break through the level of 1.27, indicating that the pair continues to grow.
Among the important news from Canada on the next trading week, which can have an impact on the USD/CAD rate is worth highlighting:
July 28, 2017, Change in GDP.
USD/CAD weekly forecast on July 24 — 28, 2017 suggests a correction attempt to the upper channel boundary and continue the decline with a potential target below the level of 1.2540, in favor of the pair growth is the support area test on the relative strength indicator.
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