Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the correction. At this point, we should expect an attempt to test the bottom of the channel near the level of 1.2810 and continue falling of the pair in the area below the level of 1.2580.
USD/CAD forecast & technical analysis April 10, 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). Cancellation of the USD/CAD fall variant on Forex will be strong and breakdown of the area of 1.2910, which will indicate the breakdown of the lower border of the channel and the continuation of growth in the area above the level of 1.3120. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the level of 1.2680.
USD/CAD forecast & technical analysis April 10, 2018 suggests an attempt to test the lower border of the channel near 1.2810 and continue falling to the area below the level of 1.2590, an additional signal in favor of the fall will be the trend line test on the relative strength index (RSI).
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