Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of a bullish correction. At the moment, we should expect an attempt to test the resistance level near the area of 1.2850 and continue falling of the pair into the area below the level of 1.2500.
USD/CAD forecast & technical analysis April 24, 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), as well as the formation of the bearish model «5-0». Canceling the USD/CAD fall on the Forex market will be strong growth and breakdown of the area of 1.2870, which will indicate the breakdown of the resistance area and the continuation of the growth of quotations in the area above the level of 1.3050. 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 1.2720.
USD/CAD forecast & technical analysis April 24, 2018 suggests an attempt to test the resistance level near 1.2850 and continue falling to the area below the level of 1.2500, 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 the level of 1.2870.
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