Currency pair US Dollar Canadian Dollar USD/CAD continues to move as part of growth. At the time of the publication of the forecast, the rate of the US Dollar to the Canadian Dollar is 1.3422. At the moment, we should expect an attempt to decrease and test the support level near the 1.3320 area. Further, the continued growth of the currency pair on Forex. A potential target of recovery is the area above the level of 1.3565.
USD/CAD forecast Canadian Dollar December 7, 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 a fall and a breakdown of the area of 1.3255. 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 rising channel and closing of the USD/CAD quotes above the level of 1.3465.
Among the important news from Canada, which may have an impact on the course of the pair USD/CAD, it is worth highlighting: The unemployment rate, the change in the number of employees.
USD/CAD forecast Canadian Dollar December 7, 2018 involves an attempt to test the support area near the level of 1.3320. Further, the continuation of growth in the region above the level of 1.3565. 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 1.3255. This will indicate a continued decline.