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 1.2910. At this point, we should expect an attempt to test the resistance level near the area of 1.2965 and the continuation of the fall of the currency pair. The potential target of the decline is the area below the level of 1.2815.
USD/CAD forecast Canadian Dollar September 21, 2018
In favor of falling quotations of the Canadian Dollar, a trend line test will be performed on the indicator of relative strength index (RSI). Canceling the USD/CAD decline on Forex will be a strong growth and breakdown of the area of 1.3010, which will indicate the breakdown of the upper limit of the descending channel and the continuation of the growth of quotations in the area above the level of 1.3100. 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 quotes below the level of 1.2885.
Among the important news from Canada, which may affect the rate of the pair USD/CAD, it is worth highlighting: the Consumer Price Index.
USD/CAD forecast Canadian Dollar September 21, 2018 suggests an attempt to test the resistance area near the level of 1.2965 and continue falling to the area below the level of 1.2815, an additional signal in favor of the pair’s decline on Forex will be a trend line test on the relative strength index (RSI).
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