Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the correction. At this point, we should expect an attempt to test the upper bound of the «Triangle» model near the area of 1.2470 and continue falling to the area below the level of 1.2230.
USD/CAD forecast & technical analysis January 23, 2018
In favor of falling quotations of the Canadian Dollar will perform a test of the resistance line on the indicator of relative strength index (RSI). Canceling the USD/CAD fall on the Forex market will be strong growth and breakdown of the region of 1.2540, which will indicate the continued growth in the area above the level of 1.2640. Expect to accelerate the fall is with the breakdown of the lower boundary of the model «Triangle» and closing below 1.2345.
USD/CAD forecast & technical analysis January 23, 2018 suggests a test of the level of 1.2470 and continuation of the fall below 1.2230, 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 at the level of 1.2540.
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