Currency pair US Dollar Canadian Dollar USD/CAD continues to move in line with the decline. At the time of the publication of the forecast, the exchange rate of the US dollar to the Canadian Dollar is 1.3344. At the moment, we should expect an attempt to grow and test the resistance level near 1.3435. Further, the continuation of the fall of the currency pair on Forex. The potential target for the decline is the area below 1.3205.
USD/CAD forecast Canadian Dollar January 8, 2019
In favor of the fall of the Canadian Dollar quotes, a test of the downward trend line on the relative strength index (RSI) will come out. As well as a rebound from the upper limit of the descending channel. Cancellation of the option to reduce USD/CAD at Forex will be a strong growth and the breakdown of the 1.3485 area. This will indicate a breakdown of the resistance level and continued growth of quotations in the area above the level of 1.3555. The pair is expected to accelerate falling with the breakdown of the support area and closing of the USD/CAD quotes below the level of 1.3305.
USD/CAD forecast Canadian Dollar January 8, 2019 suggests an attempt to test the resistance area near the level of 1.3435. Further, the continuation of the fall in the area below the level of 1.3205. An additional signal in favor of the pair falling on Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of the Canadian Dollar decline option will be a strong growth and the breakdown of the level of 1.3485. This will indicate continued growth.