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 1.3079. At this point, we should expect an attempt to test the support level near the area of 1.3030 and continue the growth of the pair in the area above the level of 1.3305.
USD/CAD forecast & technical analysis August 15, 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 a reversal model inverted «Head and Shoulders». Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.2930, 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 15, 2018 suggests trying to test the support area near the level of 1.3030 and continuing growth in the area above the level of 1.3305, an additional signal in favor of the pair’s growth at Forex will test the support line on the indicator of relative strength index (RSI).