The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.3065. The pair continues to move within the ascending channel. At the moment, we should expect an attempt to test the level of support near the level of 1.2950 and the beginning of the growth of quotations with a target above the level of 1.3550.
USD/CAD weekly forecast & analysis July 30 — August 3, 2018
In favor of the growth of the pair USD/CAD will test the trend line on the indicator of relative strength index (RSI). The cancellation of the USD/CAD growth scenario on the current trading week from July 30 — August 3, 2018 will be the fall and breakdown of the area of 1.2850, 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 1.3320.
USD/CAD weekly forecast & analysis July 30 — August 3, 2018 assumes an attempt of testing the support area near the level of 1.2950 and the beginning of growth with a target above 1.3550, an additional signal in favor of growth will be a trend line test on the indicator of relative strength index (RSI), the trend will fall and breakdown of the area of 1.2850, which will indicate the breakdown of the lower boundary of the channel and the continued decline of the pair.
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