Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the rising channel. At this point, we should expect an attempt to test the support level near the area of 1.2830 and continue the growth of the pair in the area above the level of 1.3000.
USD/CAD forecast & technical analysis May 2, 2018
In favor of the growth of quotations of the Canadian Dollar will break through the resistance line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be the fall and breakdown of the area of 1.2770, which will indicate the breakdown of the support area 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 1.2905.
USD/CAD forecast & technical analysis May 2, 2018 suggests an attempt of testing the support area near the level of 1.2830 and continuing growth to the area above the level of 1.3000, an additional signal in favor of growth will be the trend line test on the relative strength index (RSI), the cancellation of the Canadian Dollar growth option breakdown at the level of 1.2770.
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