Currency pair US Dollar Canadian Dollar USD/CAD continues to move as part of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Canadian Dollar is 1.3254. At the moment, we should expect an attempt to grow and test the resistance level near the 1.3305 area. Further, the continuation of the fall of the currency pair on Forex. The potential target of reducing quotes is the area below the level of 1.3115.
USD/CAD Forecast Canadian Dollar February 20, 2019
The test of the resistance line on the relative strength index (RSI) will be in favor of the fall of the Canadian Dollar quotes. As well as a rebound from the upper limit of the model «Triangle». Cancellation of the option of falling USD/CAD at FOREX will be a strong growth and a breakdown of the 1.3325 area. This will indicate a breakdown of the upper limit of the model and the continuation of the growth of quotations in the area above the level of 1.3445. Waiting for confirmation of the pair falling is with the breakdown of the support area and closing of the USD/CAD quotes below the level of 1.3195.
USD/CAD Forecast Canadian Dollar February 20, 2019 implies an attempt to test the resistance area near the level of 1.3305. Further, the continuation of the fall in the area below the level of 1.3115. 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 1.3325. This will indicate a continuation of the climb with a potential target above level 1.3445.
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