Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of an bullish correction. It is worth to expect an attempt to fall the pair as part of the start of the development of the «Head and Shoulders» reversal model with a potential target near the level of 1.2110.
USD/CAD prediction & technical analysis on September 26, 2017
In favor of falling quotations of the Canadian Dollar is a rebound from the descending line of resistance 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 area of 1.2450, which indicates that the pair continues to grow above the level of 1.2550. Expect the acceleration of the fall of the Canadian Dollar with a breakdown of 1.2240.
Important news from Canada, which may affect the rate of the pair USD/CAD, is not expected, so the pair will continue to move in the technical analysis.
USD/CAD prediction & technical analysis on September 26, 2017 suggests a fall attempt with a potential target near 1.2110 as part of the starting of the reversal pattern, an additional signal is a rebound from the trend line on the relative strength indicator (RSI), the drop will be lifted above 1.2450.
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