Currency pair US Dollar Canadian Dollar USD/CAD continues to move within the growth framework. At the time of publication of the forecast, the US Dollar to the Canadian Dollar rate is 1.3207. At the moment, we should expect an attempt to test the support level near the area of 1.3165 and continue the growth of the currency pair with a potential target above the level of 1.3475.
USD/CAD forecast Canadian Dollar September 7, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a test of a broken trend line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.3070, which will indicate the breakdown of the support area and the continued decline in quotations to 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 1.3265.
Among the important news from Canada, which may affect the rate of the pair USD/CAD, it is worth highlighting: Unemployment rate, Change in the number of employed.
USD/CAD forecast Canadian Dollar September 7, 2018 suggests an attempt of testing the support area near the level of 1.3165 and continuing growth in the area above the level of 1.3475, an additional signal in favor of the growth of the pair on Forex will test the trend line on the indicator of relative strength index (RSI).
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