Currency pair US Dollar Canadian Dollar USD/CAD continues to move in the ascending channel. At the time of the publication of the forecast, the rate of the US dollar to the Canadian Dollar is 1.3123. At the moment, we should expect an attempt to test the support level near the 1.3075 area and the continued growth of the currency pair. The potential target of growth is the area above the level of 1.3305.
USD/CAD forecast Canadian Dollar November 7, 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 1.3005 area, which will indicate a breakdown of the support area and a continued decline in quotations to the area below the level of 1.2850. 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 1.3185.
USD/CAD forecast Canadian Dollar November 7, 2018 implies an attempt to test the support area near the level of 1.3075 and continue growth to the area above the level of 1.3305. An additional signal in favor of growth of the pair on Forex will be the test of the support area on the relative strength index (RSI). Cancellation of the growth rate of the Canadian Dollar will be a fall and a breakdown of the level of 1.3005, which will indicate a continued decline.