Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in as part of the growth and bullish channel. At the moment, we should expect an attempt to test the support level of 1.3220 area and continue the growth of the pair in the area above the level of 1.3505.
USD/CAD forecast & technical analysis June 29, 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). Canceling the USD/CAD growth option on Forex will be the fall and breakdown of the 1.3190 area, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of quotations in the area below the level of 1.3050. 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 1.3420.
USD/CAD forecast & technical analysis June 29, 2018 assumes an attempt of testing the support area near the level of 1.3220 and continuing 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 Canadian Dollar growth option there will be a breakdown at level 1.3190.
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