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 1.3227. At the moment, we can expect an attempt to correct and test the support level near the 1.3170 area. Further, the continued growth of the currency pair on Forex. The potential target of the upward movement is the area above the level of 1.3345.
USD/CAD forecast Canadian Dollar November 23, 2018
In favor of the growth of quotations of the Canadian Dollar will test the trend line on the indicator of relative strength index (RSI). Cancellation of the growth option for USD/CAD at Forex will be a fall and a breakdown of the area of 1.3110. This will indicate a breakdown of the support area and a continued decline in quotations to the area below the level of 1.2950. The pair is expected to accelerate growth with the breakdown of the upper boundary of the ascending channel and closing of the USD/CAD quotes above the level of 1.3365.
Among the important news from Canada that may have an impact on the course of the pair USD/CAD, it is worth highlighting: Speech by the First Deputy Chairman of the Bank of Canada
USD/CAD forecast Canadian Dollar November 23, 2018 suggests an attempt to test the support area near the level of 1.3170. Further, the continuation of growth in the region above the level of 1.3345. 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 level of 1.3110. This will indicate a continued decline.
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