The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2960. The pair continues to move within the bullish channel. At the moment, we should expect an attempt to test the support level near the area of 1.2870 and continue the growth of quotations with a target above the level of 1.3520.
USD/CAD weekly forecast & analysis October 1 — 5, 2018
In favor of the growth of the pair USD/CAD will test the uptrend line on the indicator of relative strength index (RSI), as well as rebound from the lower boundary of the bullish channel. The cancellation of the USD/CAD growth scenario on the current trading week on October 1 — 5, 2018 will result in a strong fall and breakdown of the 1.2700 area, which will indicate the breakdown of the lower border of the channel and the continuation of the fall into the area below the level of 1.2550. Confirmation of the growth of the pair will be the breakdown of the upper boundary of the descending channel and the closing above the level of 1.3095.
Among the important news from Canada, which can have an impact on the Canadian Dollar rate, it is worth highlighting: Unemployment rate, Change in the number of employed.
USD/CAD weekly forecast & analysis October 1 — 5, 2018 involves trying to test the support area near the level of 1.2870 and the beginning of growth with a target above 1.3520, an additional signal in favor of growth will test the trend line on the indicator of relative strength index (RSI).
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