Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in within the ascending channel and formation of the «Triangle» model. At this point, we should expect an attempt to test the support level near the area of 1.2950 and continue the growth of the pair in the area above the level of 1.3245.
USD/CAD forecast & technical analysis June 15, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth scenario on Forex will be the fall and breakdown of the area of 1.2860, which will indicate the breakdown of the support area and the continuation of the fall of quotations to the area below the level of 1.2650. To expect confirmation of the growth of the pair is with the breakdown of the upper limit of the «Triangle» model and the closing of the USD/CAD pair quotations above the level of 1.3080.
USD/CAD forecast & technical analysis June 15, 2018 suggests an attempt to test the support area near the level of 1.2950 and continue growth to the area above the level of 1.3245, an additional signal in favor of the pair’s growth will be a trend line test on the relative strength index (RSI), the cancellation of the Canadian Dollar growth option will breakdown at the level of 1.2860.
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