Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the growth framework. At this point, we should expect a test of the resistance level near the area of 1.2875 and the continuation of the fall of the pair in the area below the level of 1.2680.
USD/CAD forecast & technical analysis April 27, 2018
In favor of falling quotations of the Canadian Dollar will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders». The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the area of 1.2910, which will indicate the breakdown of the resistance area and the continuation of the growth of quotations to the area above the level of 1.2980. To expect confirmation of the fall of the pair is with the breakdown of the lower border of the rising channel and the closing of the quotes of the pair USD/CAD below the level of 1.2780.
USD/CAD forecast & technical analysis April 27, 2018 suggests an attempt to test the resistance area near the level of 1.2875 and continue falling to the area below the level of 1.2680, an additional signal in favor of the fall will test the trend line on the indicator of relative strength index (RSI), the cancellation of the Canadian Dollar fall breakdown at the level of 1.2910.
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