Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the fall. At the moment, we should expect an attempt to test the resistance area near the level of 1.2655 and continue falling of the pair into the area below the level of 1.2420.
USD/CAD forecast & technical analysis April 17, 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 1.2705, which will indicate the breakdown of the upper border of the channel and the continuation of growth in the area above the level of 1.2950. 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 1.2560.
USD/CAD forecast & technical analysis April 17, 2018 suggests a test of the resistance level near 1.2655 and the continuation of the fall below 1.2420, an additional signal in favor of the fall will be a trend line test on the indicator of relative strength index (RSI), the cancellation of the Canadian Dollar fall will be a breakdown the level of 1.2705.