Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the framework of the fall and downward channel. At the time of publication of the forecast, the US dollar rate to the Canadian dollar is 1.2083. Moving averages indicate the presence of short-term bearish trends in a pair. Prices struck areas between signal lines down, which indicates pressure from the sellers and the potential continuation of the fall in the price pair is in the near future. At the moment, it is worth an attempt to develop a fall and the support level of support near the region of 1.2075. Next, rebound up and continue the growth of currency pair on Forex. The potential goal of such a movement of the tool is the area above level 1.2335.
USD/CAD Forecast Canadian Dollar May 14, 2021
An additional signal in favor of the growth of the quotations of the Canadian dollar will be the test line of support on the relative force indicator. The second signal in favor of the lifting will be a rebound from the lower boundary of the bear canal. The abolition of the growth rate of the USD/CAD currency pair on Forex will be the fall and breakdown of the region 1.1955. This will indicate the support area and continue the fall in the quotations to the area below level 1.1725. Expect confirmation of the growth of the pair stands with a breakdown of resistance areas and closing the USD/CAD pair quotes above level 1.2185.
USD/CAD Forecast Canadian Dollar May 14, 2021 implies an attempt to test the area of support near the level of 1.2075. Further, continued growth in the region above level 1.2335. An additional signal in favor of the growth of the Canadian dollar on Forex will perform a trend line test on the relative force indicator. Cancellation of the USD/CAD quotation lifting option will be dropping and breakdown level 1.1955. This will indicate to continue to reduce the cost of the asset with a potential goal below level 1.1725.
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