Currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the fall. At the moment, we should expect an attempt to test the lower border of the channel near the level of 1.3000 and continue the fall of the pair in the area below the level of 1.2600 as part of the start of the development of the «Head and Shoulders» reversal model.
USD/CAD forecast & technical analysis March 23, 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). The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the 1.3130 area, which will indicate the breakdown of the local maximum and the continuation of growth to the area above 1.3250. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the level of 1.2800.
USD/CAD forecast & technical analysis March 23, 2018 suggests a test of the resistance level near 1.3000 and the continuation of the fall below 1.2600, an additional signal in favor of the fall will be a test of the trend line on the indicator of relative strength index (RSI), the cancellation of the Canadian Dollar fall will be a breakdown level 1.3130.
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