Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of a bullish correction. At this point, we should expect an attempt to test the resistance level near the area of 1.2800 and continue falling of the pair into the area below the level of 1.2400.
USD/CAD forecast & technical analysis April 20, 2018
In favor of the growth of quotations of the Canadian Dollar, a trend line test will be performed on the indicator of relative strength index (RSI), as well as the formation of the bullish «Shark» model. The cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.2480, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level of 1.2360. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of quotations above the level of 1.2710.
USD/CAD forecast & technical analysis April 20, 2018 suggests a test of the resistance level near 1.2800 and the continuation of the fall below 1.2400, an additional signal in favor of growth is the trend line test on the relative strength index (RSI), the cancellation of the Canadian Dollar growth option will be a breakdown the level of 1.2480.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
