Currency pair US Dollar Canadian Dollar USD/CAD continues to move within the ascending channel. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Canadian Dollar is 1.3237. At the moment, we should expect an attempt to reduce and test the support level near 1.3175. Further, the continued growth of the currency pair on FOREX. The potential goal of raising quotes is the area above the level of 1.3455.
USD/CAD Forecast Canadian Dollar January 11, 2019
In favor of the growth of quotations of the Canadian Dollar will test the rising trend line on the indicator of relative strength index (RSI). As well as a rebound from the lower boundary of the rising channel. Cancellation of growth options for USD/CAD at Forex will be the fall and breakdown of the 1.3125 area. This will indicate a breakdown of the lower boundary of the channel and a continuation of the decline in quotations to the area below the level of 1.3025. The pair is expected to accelerate growth with the breakdown of the resistance area and closing of the USD/CAD quotes above the level of 1.3365.
USD/CAD Forecast Canadian Dollar January 11, 2019 involves an attempt to test the support area near the level of 1.3175. Further, the continuation of the fall in the area above the level of 1.3455. An additional signal in favor of the pair growth 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 of the level of 1.3125. This will indicate a continued decline.