The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3163. The pair continues to move in growth. At the moment, we should expect an attempt to test the support level near the 1.3015 area. Then, the growth of quotations with the target above the level of 1.3575.
USD/CAD weekly forecast & analysis November 19 — 23, 2018
The test of the rising trend line on the relative strength index (RSI) will be in favor of the USD/CAD pair growth. As well as a rebound from the support area on the price chart. Cancellation of the growth option of the USD/CAD quotes in the current trading week of November 19 — 23, 2018 will be a fall and a breakdown of the 1.2800 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of falling into the region below the level of 1.2550. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above 1.3325.
Among the important news from Canada, which may have an impact on the Canadian Dollar rate, it is worth highlighting: Consumer price index.
USD/CAD weekly forecast & analysis November 19 — 23, 2018 implies an attempt to test the support area near the level of 1.3015. Further, the beginning of growth with the goal above level 1.3575. An additional signal in favor of growth will be a test of the trend line on the relative strength index (RSI). Cancellation options for the upward trend will fall and the breakdown of 1.2800 area. This will indicate a breakdown of the lower boundary of the channel and a continued decline in the pair.
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