The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.3198. The pair continues to move within the framework of the bullish correction. At the moment, we should expect an attempt to test the level of support near the level of 1.3120 and the beginning of the growth of quotations with a target above the level of 1.3560.
USD/CAD weekly forecast & analysis July 16 — 20, 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 for the current trading week on July 16 — 20, 2018 will be the fall and breakdown of the 1.3040 area, which will indicate the breakdown of the support area and the continuation of the fall growth into the area below the level of 1.2540. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closing above the level of 1.3250.
USD/CAD weekly forecast & analysis July 16 — 20, 2018 assumes an attempt of testing the support area near the 1.3120 level and the beginning of growth with a target above 1.3560, an additional signal in favor of growth will be a trend line test on the relative strength index (RSI).
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