Currency pair US Dollar Canadian Dollar USD/CAD continues to move as part of growth. At the time of the publication of the forecast, the rate of the US Dollar to the Canadian Dollar is 1.3329. Moving averages indicate the presence of a bullish trend in the pair. At the moment, we should expect an attempt to fall and a test of the support level near the 1.3265 area. Further, the continued growth of the currency pair in Forex. The potential target of raising quotes is the area above the level of 1.3425.
USD/CAD Forecast Canadian Dollar March 6, 2019
In favor of the growth of quotations of the Canadian Dollar will test the line of support on the indicator of relative strength index (RSI). As well as a rebound from the upper boundary of the descending channel. Cancellation of growth options for USD/CAD at FOREX will be a fall and a breakdown of the 1.3165 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in quotations to the area below the level of 1.2995. It is worth waiting for the confirmation of the pair growth with the breakdown of the resistance area and closing of the USD/CAD quotes above the level of 1.3375.
Among the important news from Canada, which may affect the rate of the USD/CAD pair, it is worth highlighting: Decision of the Bank of Canada at the basic interest rate, Accompanying statement of the Bank of Canada.
USD/CAD Forecast Canadian Dollar March 6, 2019 involves an attempt to test the support area near the level of 1.3265. Further, the continuation of growth in the region above the level of 1.3425. 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 1.3165. This will indicate continued decline with a potential target below 1.2995.
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