Currency pair US Dollar Canadian Dollar USD/CAD continues to move in the framework of the correction. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Canadian Dollar is 1.3397. At the moment, we should expect an attempt to reduce and test the support level near 1.3335. Further, the continued growth of the currency pair on Forex. A potential target of recovery is the area above the level of 1.3590.
USD/CAD forecast Canadian Dollar December 12, 2018
The test of the broken trend line on the relative strength index (RSI) will be in favor of the Canadian Dollar price growth. Cancellation of growth options for USD/CAD at Forex will be the fall and breakdown of the area of 1.3245. This will indicate a breakdown of the support level and a continued decline in quotes to the area below the level of 1.3120. The pair is expected to accelerate growth with the breakdown of the upper boundary of the ascending channel and closing of the USD/CAD quotes above the level of 1.3535.
USD/CAD forecast Canadian Dollar December 12, 2018 implies an attempt to test the support area near the level of 1.3335. Further, the continuation of growth in the region above the level of 1.3590. An additional signal in favor of raising the pair at FOREX will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of the Canadian Dollar will be the fall and the breakdown level of 1.3245. This will indicate a continued decline.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
