The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.3117. The pair continues to move within the bullish channel. At this point, we should expect a test of the support level near the 1.2920 area and the beginning of the growth of quotations with a target above 1.3685 level.
USD/CAD weekly forecast & analysis August 13 — 17, 2018
In favor of the growth of the pair USD/CAD will test the upward trend line on the indicator of relative strength index (RSI). The cancellation of the USD/CAD growth scenario on the current trading week on August 13 — 17, 2018 will be the fall and breakdown of the 1.2750 area, which will indicate the breakdown of the support area and the continuation of the fall to the area below the level of 1.2500. Confirmation of the growth of the pair will break through the resistance area and the closure above the level of 1.3170.
USD/CAD weekly forecast & analysis August 13 — 17, 2018 assumes an attempt of testing the support area near the level of 1.2920 and the beginning of growth with a target above 1.3685, an additional signal in favor of growth will be a trend line test on the indicator of relative strength index (RSI).