Currency pair US Dollar Canadian Dollar USD/CAD continues to move within the framework of the formation of the «Triangle» model. At the time of publication of the forecast, the US dollar to the Canadian Dollar rate is 1.3163. At the moment, we should expect an attempt to test the support level near the 1.3120 area and continue the growth of the currency pair with a potential target above the level of 1.3340.
USD/CAD forecast Canadian Dollar September 12, 2018
In favor of the growth of quotations of the Canadian Dollar, an uptrend test on the relative strength index (RSI) will perform, as well as a test of the lower boundary of the rising channel. Cancellation of the USD/CAD growth scenario on Forex will be the fall and breakdown of the 1.3050 area, which will indicate the breakdown of the support area and the continuation of the decline in quotations to the area below the level of 1.2950. Expect to confirm the growth of the pair is with the breakdown of the upper limit of the model «Triangle» and the closing of the quotes of the pair USD/CAD above the level of 1.3200.
USD/CAD forecast Canadian Dollar September 12, 2018 involves trying to test the support area near the 1.3120 level and continuing growth in the area above 1.3340, an additional signal in favor of the pair’s growth at Forex will be a trend line test on the indicator of relative strength index (RSI).
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