Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the bearish channel. At the time of publication of the forecast, the US Dollar to the Canadian Dollar rate is 1.3075. At this point, we should expect an attempt to test the upper border of the channel near the 1.3120 area and continue the decline of the pair into the area below the level of 1.3000.
USD/CAD forecast & technical analysis July 10, 2018
In favor of falling quotations of the Canadian Dollar, a trend line test will be performed on the indicator of relative strength index (RSI). Canceling the USD/CAD decline on Forex will be strong growth and breakdown of the 1.3150 area, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of quotations in the area above the level of 1.3230. To expect confirmation of the pair’s decline is the breakdown of the lower border of the channel and the closing of the USD/CAD pair’s quotes below the level of 1.3030.
USD/CAD forecast & technical analysis July 10, 2018 suggests an attempt to test the resistance area near the level of 1.3120 and continue the decline to the area below the level of 1.3000, an additional signal in favor of the fall of the pair on FOREX will be a test of the resistance line on the indicator of relative strength index (RSI).
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