The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3142. The pair continues to move in growth. At the moment, we should expect an attempt to test the support level near the 1.2980 area and continue the growth of quotations with the goal above the level of 1.3570.
USD/CAD forecast & analysis October 29 — November 2, 2018
The test of the rising trend line on the relative strength index (RSI) will be in favor of the USD/CAD pair growth. The cancellation of the growth rate of the USD/CAD quotes in the current trading week of October 29 — November 2, 2018 will be a fall and a breakdown of the area of 1.2750, which will indicate a breakdown of the lower boundary of the channel and the continuation of the fall to the area below the level of 1.2550. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above 1.3260.
Among the important news from Canada, which may have an impact on the Canadian Dollar rate, it is worth highlighting: Changes in GDP, unemployment rate, change in the number of employees.
USD/CAD forecast & analysis October 29 — November 2, 2018 suggests an attempt to test the support area near the level of 1.2980 and the beginning of growth with a target above the level of 1.3570, a test of the trend line on the relative strength index (RSI), the upward development scenario will act as an additional growth indicator. trends will fall and the breakdown of 1.2750 area, which will indicate a breakdown of the lower boundary of the channel and the continued decline in the pair.