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 1.2885 and continue falling to the area below the level of 1.2620. 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).
USD/CAD forecast & technical analysis on December 21, 2017
Canceling the USD/CAD fall on the FOREX market will be a strong growth and breakdown of the area of 1.2940, which will indicate the outflow of quotes out of the channel and the continued growth. To expect the acceleration of the fall is with the breakdown of the support level and the closing below the area of 1.2750.
USD/CAD forecast & technical analysis on December 21, 2017 suggests an attempt to test the upper border of the channel near the level of 1.2885 and the beginning of the fall to the area below the level of 1.2720, 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 there will be a breakdown at the level of 1.2940.
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