Currency pair US Dollar Canadian Dollar USD/CAD continues to move within the bullish channel. At the time of publication of the forecast, the US Dollar to the Canadian Dollar rate is 1.3195. At the moment, we should expect an attempt to test the support level near the 1.3150 area and continue the pair’s growth to the area above the level of 1.3410 within the beginning of the development of the inverted «Head and Shoulders» model.
USD/CAD forecast & technical analysis July 13, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a trend line test on the indicator of relative strength. Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.3040, which will indicate the breakdown of the support area and the continuation of the fall of quotations in the area below the level of 1.2900. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of the USD/CAD pair quotations above the level of 1.3220.
USD/CAD forecast & technical analysis July 13, 2018 involves trying to test the support area near the 1.3150 level and continuing growth in the area above 1.3410, an additional signal in favor of the pair’s growth at Forex will be a trend line test on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
