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 rate of the US Dollar to the Canadian Dollar is 1.3585. At the moment, we should expect an attempt to reduce and test the support level near the area of 1.3485. Further, the continued growth of the currency pair on Forex. A potential target of recovery is the area above level 1.3815.
USD/CAD forecast Canadian Dollar January 3, 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 bullish channel. Cancellation of growth options for USD/CAD at Forex will be the fall and breakdown of the 1.3350 area. This will indicate a breakdown of the support level and a continued decline in quotations to the area below the level of 1.3285. It is worth waiting for the pair to accelerate with the breakdown of the resistance area and closing of the USD/CAD quotes above the level of 1.3695.
USD/CAD forecast Canadian Dollar January 3, 2019 implies an attempt to test the support area near the level of 1.3485. Further, the continuation of growth in the region above the level of 1.3815. 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 of the level of 1.3350. This will indicate a continued decline.