Currency pair US Dollar Canadian Dollar USD/CAD continues to move within a downward correction. At the time of publication of the forecast, the US Dollar to the Canadian Dollar rate is 1.3053. At this point, we should expect an attempt to test the support level near the 1.3025 area and continue the growth of the currency pair with a potential target above the level of 1.3255.
USD/CAD forecast Canadian Dollar September 13, 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 bullish channel. Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.2990, which will indicate the breakdown of the support area and the continuation of the decline of quotations in the area below the level of 1.2950. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of the USD/CAD pair quotations above the level of 1.3080.
USD/CAD forecast Canadian Dollar September 13, 2018 assumes an attempt to test the support area near the level of 1.3025 and continue growth in the area above the level of 1.3255, an additional signal in favor of the pair’s growth on Forex will test the trend line on the indicator of relative strength index (RSI).
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