CIBC: U.S. / Canada retains upside potential

Upward movement dollar / Canada in the last few days, stalled, given the proximity of the trend line with highs in March, however, while the bulls met a good response when trying to break above the desire of couples to move to lower only attracted fresh interest in the purchase. The ability of the U.S. refrain from supporting a breakthrough in 23.6% of the growth with a minimum this year is a positive sign for the bulls, and in the next couple of days of continued consolidation in the range is quite likely. Currency analysts CIBC World Markets noted that the favorable development for the bulls is also a continuation of trading above 40-day moving average, the intersection of which in the past provided a fairly reliable signals about the future prospects of the movement. The bank believes that while it makes sense to attempt to reduce the use of C $ 1.1400/30 shopping dollar / Canada with the foot below the 40-day moving average (approx. Forexpf.Ru: today around C $ 1.1361), and the expectation of a return to the recent peak, with a break above C $ 1.1625 will open the way for further growth of a pair of C $ 1.18.