Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the correction and formation of the reversal pattern. At the moment, we should expect a test of the resistance area near the level of 1.2950 and continuation of the fall of the pair in the area below the level of 1.2590 within the beginning of the development of the reversal model «Head and Shoulders».
USD/CAD forecast & technical analysis April 3, 2018
In favor of falling quotations of the Canadian Dollar will test the trend line on the indicator of relative strength index (RSI). The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the 1.3130 area, which will indicate the breakdown of the local maximum and the continuation of growth to the area above 1.3250. 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 1.2800.
USD/CAD forecast & technical analysis April 3, 2018 suggests a test of the resistance level near 1.2950 and the continuation of the fall below 1.2590, 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 level 1.3130.
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