Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the fall. At this point, we should expect an attempt to test the upper border of the channel near the area of 1.2505 and continue falling to the area below the level of 1.2240.
USD/CAD forecast & technical analysis January 9, 2018
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 region of 1.2550, which will indicate the continued growth in the resistance area near the level of 1.2640. Expect the acceleration of the fall is with the breakdown of the level of 1.2380.
USD/CAD forecast & technical analysis January 9, 2018 assumes a test of the level of 1.2505 and continuation of the fall below 1.2240, 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 the level of 1.2550.