Currency pair US Dollar Canadian Dollar USD/CAD continues to move in line with the decline. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Canadian Dollar is 1.3175. At the moment, we can expect an attempt to grow and test the resistance level near the 1.3220 area. Further, the continuation of the fall of the currency pair on FOREX. The potential target of the decline is the area below 1.2935.
USD/CAD forecast Canadian Dollar December 5, 2018
In favor of reducing the quotations of the Canadian Dollar will test a downward trend line on the indicator of relative strength index (RSI). As well as a rebound from the broken boundary of the ascending channel. Cancellation of the option of falling USD/CAD at FOREX will be a strong growth and the breakdown of the area of 1.3265. This will indicate a breakdown of the resistance level and continued growth of quotations in the area above the level of 1.3425. Expect the pair to accelerate falling with the breakdown of the support area and closing of the USD/CAD quotes below the level of 1.3135.
Among the important news from Canada that may affect the course of the pair USD/CAD, it is worth highlighting: Decision of the Bank of Canada at the basic interest rate, Accompanying statement of the Bank of Canada.
USD/CAD forecast Canadian Dollar December 5, 2018 involves an attempt to test the resistance area near the level of 1.3220. Further, the continuation of the fall in the area below 1.2935. An additional signal in favor of reducing the pair on Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall of the Canadian Dollar will be a strong growth and the breakdown level of 1.3265. This will indicate a continuation of the climb.
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