Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the correction. At the moment, we should expect an attempt to test the resistance level near the area of 1.2660 and continue falling of the pair into the area below the level of 1.2400. In favor of falling quotes of the Canadian Dollar, a resistance line test will be performed on the indicator of relative strength index (RSI), as well as the formation of the bearish model «Wolfe Wave».
USD/CAD forecast & technical analysis February 27, 2018
Cancellation of the USD/CAD fall in the forex market will be strong growth and breakdown of the area of 1.2850, which will indicate the breakdown of the upper boundary of the model and the continuation of growth in the area above 1.2940. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the area of 1.2580.
USD/CAD forecast & technical analysis February 27, 2018 suggests a test of the resistance level near 1.2660 and the continuation of the fall below 1.2400, an additional signal in favor of the drop will be a resistance line test on the relative strength index (RSI), the cancellation of the Canadian Dollar fall will be a breakdown the level of 1.2850.
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