The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3608. The pair continues to move in growth. Moving averages indicate an uptrend. At the moment, we should expect an attempt to reduce and test the support level near the area of 1.3465. Then, the growth of quotations with the target above the level of 1.3935.
USD/CAD forecast & analysis December 31 — January 4, 2019
A test of the rising trend line on the relative strength index (RSI) will be in favor of the growth of the USD/CAD pair. As well as a rebound from the lower boundary of the bullish channel. Cancellation of the growth of the USD/CAD quotes in the current trading week December 31 — January 4, 2019 will be a fall and a breakdown of the 1.3335 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of falling into the area below the level of 1.3050. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above 1.3685.
USD/CAD forecast & analysis December 31 — January 4, 2019 implies an attempt to test the support area near the level of 1.3465. Further, the beginning of growth with a goal above the level of 1.3935. An additional signal in favor of growth will be a test of the trend line on the relative strength index (RSI). Cancellation options for the upward trend will be the fall and the breakdown of 1.3335. This will indicate a breakdown of the lower boundary of the channel and a continued decline in the pair.