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Forex Forecast USD / CAD exchange rate as of today 31/05/2016



raw materials price index (RMPI) in Canada for the last month rose less than expected. Index released at 0.7% compared with 4.5% in the previous month.The market had expected growth of 2.2%.





Current situation

The tendency of the pair USD / CAD is still growing. Currently the pair is showing growth, as the correction movement by reducing the level of 1.2900. The pair managed to rise to 1.3100, where growth has slowed, and by the end of trade, the pair pulled back down. Now resistance is located at 1.3100 and support -. 1.2900 on 
the chart H4 MACD indicator at zero and does not beep. Histogram above its signal line. RSI Oscillator is in the neutral zone. The indicator does not give clear signals.

Forecast USD / CAD 31/05/2016
In the case of a new reduction pair USD / CAD Target bears is the level of 1.2900.


Source  Fort Financial Services

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