The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2907. The pair continues to move within the bullish channel. At this point, we should expect an attempt to test the level of support near the area of 1.2880 and the continuation of the growth of quotations with a target above the level of 1.3370.
USD/CAD weekly forecast & analysis September 24 — 28, 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 September 24 — 28, 2018 will be a strong fall and breakdown of the area of 1.2730, which will indicate the breakdown of the lower border of the channel and the continuation of the fall to the area below the level of 1.2550. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closing above the level of 1.3045.
Among the important news from Canada, which can have an impact on the Canadian Dollar rate, it is worth highlighting: GDP volume change.
USD/CAD weekly forecast & analysis September 24 — 28, 2018 assumes an attempt of testing the support area near the level of 1.2880 and the beginning of growth with a target above 1.3370, 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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