Currency pair US Dollar Canadian Dollar USD/CAD continues to move within a bearish correction. At the time of publication of the forecast, the US Dollar to the Canadian Dollar rate is 1.3007. At this point, we should expect an attempt to test the resistance level near the area of 1.3060 and continue the fall of the currency pair with a potential target below the level of 1.2875.
USD/CAD forecast Canadian Dollar September 14, 2018
In favor of falling quotations of the Canadian Dollar, a trend line test will be performed on the relative strength indicator, as well as a test of the upper boundary of the bearish channel. The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the area of 1.3100, which will indicate the breakdown of the resistance area and the continuation of the growth of quotations in the area above the level of 1.3250. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of the USD/CAD pair quotations below the level of 1.2965.
USD/CAD forecast Canadian Dollar September 14, 2018 suggests an attempt to test the resistance area near the level of 1.3060 and continue falling to the area below the level of 1.2875, an additional signal in favor of the pair’s decline on Forex will be a trend line test on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
