Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in as part of the growth and bullish channel. At this point, we should expect an attempt to test the lower border of the channel near the area of 1.3245 and continue the growth of the pair in the area above the level of 1.3505.
USD/CAD forecast & technical analysis June 26, 2018
In favor of the growth of quotations of the Canadian Dollar will perform a trend line test on the indicator of relative strength index (RSI). The cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the 1.3160 area, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of quotations to the area below the level of 1.2950. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of the USD/CAD pair quotations above the level of 1.3405.
USD/CAD forecast & technical analysis June 26, 2018 assumes an attempt to test the support area near the level of 1.3245 and continue growth to the area above the level of 1.3505, 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 growth option for the Canadian Dollar there will be a breakdown at level 1.3160.
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