Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the bearish channel. At the moment, we should expect an attempt to test the upper border of the channel near 1.2870 and continue falling to the area below the level of 1.2670 within the framework of the formation of the bullish «Wolfe Wave» model.
USD/CAD forecast & technical analysis on December 15, 2017
In favor of falling quotations of the Canadian Dollar will perform a test of the resistance line on the indicator of relative strength index (RSI). The cancellation of the USD/CAD fall on the FOREX market will be strong growth and breakdown of the area of 1.2920, which will indicate the continued growth of the pair. To expect the acceleration of the fall is with the breakdown of the support level and the closing below the area of 1.2780.
USD/CAD forecast & technical analysis on December 15, 2017 suggests a test of the level of 1.2870 and the beginning of the fall into the area below the level of 1.2670, an additional signal in favor of the drop will be a resistance line test on the relative strength index (RSI), the cancellation of the Canadian Dollar fall will be a breakdown at level 1.2920.
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