Currency pair US Dollar to Canadian Dollar USD/CAD continues to move near the area of 1.2640. At this point, we should expect an attempt to test the upper bound of the «Triangle» model near the area of 1.2595. Where can we expect a rebound and the growth of quotations above the level of 1.2765.
USD/CAD prediction & technical analysis on October 24, 2017
In favor of the growth of quotations of the Canadian Dollar will perform a test of a broken trend line 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 area of 1.2550, which will indicate the continuation of the decline. With the breakdown of the area of 1.2665, it is expected to accelerate the growth of the pair.
USD/CAD prediction & technical analysis on October 24, 2017 suggests an attempt to test the broken triangle of the «Triangle» pattern and continue the growth of the pair above 1.2765, the cancellation of the Canadian Dollar growth option will be a breakdown at the level of 1.2550, in which case it is expected to continue falling.
