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 USD rate to the Canadian Dollar is 1.3139. At the moment, we should expect an attempt to grow and test the resistance level near the 1.3185 area. Further, the continuation of the fall of the currency pair on FOREX. The potential goal of reducing quotes is the area below the level of 1.3040.
USD/CAD Forecast Canadian Dollar February 1, 2019
The test of the resistance line on the relative strength index (RSI) will be in favor of the fall of the Canadian Dollar quotations. As well as a rebound from the upper boundary of the bearish channel. Cancellation of the option of falling USD/CAD at Forex will be a strong growth and the breakdown of the area of 1.3235. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of quotations in the area above the level of 1.3350. Waiting for confirmation that the pair is falling is with the breakdown of the support area and closing of the USD/CAD quotes below the level of 1.3100.
USD/CAD Forecast Canadian Dollar February 1, 2019 suggests an attempt to test the resistance area near the level of 1.3185. Further, the continuation of the fall in the area below 1.3040. 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 1.3235. This will indicate continued growth with a potential target above 1.3350.
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