Currency pair US Dollar Canadian Dollar USD/CAD continues to move within the correction. At the time of publication of the forecast, the US Dollar to the Canadian Dollar rate is 1.3024. At this point, we should expect an attempt to test the support level near the area of 1.2875 and continue the growth of the pair in the area above the level of 1.3165.
USD/CAD forecast & technical analysis August 10, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth scenario on Forex will be the fall and breakdown of the area of 1.2900, which will indicate the breakdown of the support level and the continuation of the fall of quotations in the area below the level of 1.2800. To expect confirmation of the growth of the pair is with the breakdown of the upper border of the bearish channel and the closing of the quotes of the pair USD/CAD above the level of 1.3185.
USD/CAD forecast & technical analysis August 10, 2018 assumes an attempt of testing the support area near the level of 1.2875 and continuing growth in the area above the level of 1.3165, an additional signal in favor of the pair’s growth on Forex will be a test of the support line on the indicator of relative strength index (RSI).
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