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 1.3312. At the moment, we should expect an attempt to correct and test the support level near the 1.3225 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 1.3485.
USD/CAD forecast Canadian Dollar November 29, 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). As well as a rebound from the lower boundary of the bullish channel. Cancellation of the growth option for USD/CAD at Forex will be a fall and a breakdown of the 1.3145 area. This will indicate a breakdown of the lower boundary of the channel and a continuation of the decline in quotations to the area below the level of 1.2980. 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 1.3405.
USD/CAD forecast Canadian Dollar November 29, 2018 implies an attempt to test the support area near the level of 1.3225. Further, the continuation of growth in the region above the level of 1.3485. 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 of the level of 1.3145. This will indicate a continued decline.
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