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 rate against the Canadian Dollar is 1.3133. At the moment, we should expect an attempt to test the support level near the 1.3095 area and continue the pair’s growth to the area above the level of 1.3275 within the beginning of the development of the inverted «Head and Shoulders» model.
USD/CAD forecast & technical analysis July 11, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a test of a broken trend line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.3040, which will indicate the breakdown of the support area and the continuation of the fall of quotations in the area below the level of 1.2970. To expect confirmation of the growth of the pair is with the breakdown of the upper border of the channel and the closing of the quotes of the pair USD/CAD above the level of 1.3160.
USD/CAD forecast & technical analysis July 11, 2018 involves trying to test the support area near the 1.3120 level and continuing growth in the area above 1.3275, an additional signal in favor of the pair’s growth at Forex will be a trend line test on the indicator of relative strength index (RSI).
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