The pair Canadian Dollar to US Dollar USD/CAD ends the trading week near the level of 1.2599. The pair continues to move within the growth and bearish channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of the currency pair and a potential continuation of the fall. At the moment, we should expect an attempt to develop a rise and test the resistance level near the 1.3025 area. Then, a rebound down and the beginning of a fall in quotations with a target below the level of 1.1925.
USD/CAD Forecast and Analysis November 22 — 26, 2021
An additional signal in favor of the fall of the USD/CAD currency pair will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to drop the USD/CAD currency pair quotes in the current trading week ovember 22 — 26, 2021 will be a strong growth and a breakdown of the 1.3165 area. This will indicate a breakdown of resistance and continued growth to the area above the level of 1.3535. Confirmation of the fall in the pair will be the breakdown of the support area and the closing of the price below 1.2305.
USD/CAD Forecast and Analysis November 22 — 26, 2021 implies an attempt to test the resistance area near the level of 1.3025. Further, continued growth with a target below 1.1925. An additional signal in favor of a decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall development option will be a strong growth and a breakdown of the 1.3165 area. This will indicate a breakdown of important resistance and a continued decline in the rise with a target above 1.3535.
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