Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the bearish channel. At this point, we should expect an attempt to test the resistance level near the 1.2365 area and continue falling to the area below the level of 1.2180. 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).
USD/CAD forecast & technical analysis January 30, 2018
The cancellation of the USD/CAD fall on the Forex market will result in a strong growth and breakdown of the area of 1.2440, which will indicate the outflow of the quotes out of the channel and the continuation of growth in the area above the level of 1.2640.
USD/CAD forecast & technical analysis January 30, 2018 assumes a test of the level of 1.2365 and continuation of the drop to the area below the level of 1.2180, 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 1.2440.
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