The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2981. The pair continues to move within the bullish channel. At the moment, we should expect a test of the support level near the 1.2880 area and the beginning of the growth of quotations with a target above 1.3420.
USD/CAD weekly forecast & analysis August 6 — 10, 2018
In favor of the growth of the pair USD/CAD will test the trend line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth scenario on the current trading week on USD/CAD weekly forecast & analysis August 6 — 10, 2018 will be the fall and breakdown of the area of 1.2750, which will indicate the breakdown of the support area and the continuation of the fall growth into the area below the level of 1.2500. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closing above the level of 1.3150.
USD/CAD weekly forecast & analysis August 6 — 10, 2018 suggests an attempt of testing the support area near the level of 1.2880 and the beginning of growth with a target above 1.3420, an additional signal in favor of growth will be a trend line test on the indicator of relative strength index (RSI).
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