Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the growth. At this point, we should expect an attempt to test the support level near the area of 1.2890 and continue the growth of the pair in the area above the level of 1.3075.
USD/CAD forecast & technical analysis May 10, 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 lower border of the channel and the continuation of the fall of quotations in the area below the level of 1.2680. 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 1.3010.
USD/CAD forecast & technical analysis May 10, 2018 suggests an attempt of testing the support area near the level of 1.2860 and continuing growth in the area above 1.3075, an additional signal in favor of growth will be a trend line test on the relative strength index (RSI), the cancellation of the Canadian Dollar growth option breakdown at the level of 1.2860.
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