The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2613. At this point, we should expect an attempt to test the level of support near the area of 1.2550 and the continuation of the growth of quotations with a target above the level of 1.3180.
USD/CAD weekly forecast April 16 — 20, 2018
In favor of the growth of the pair USD/CAD will test the upward trend line on the indicator of relative strength index (RSI). Canceling the option of continuing the growth of USD/CAD quotes in the current trading week will be the fall and breakdown of the area of 1.2350, which will indicate the breakdown of the lower boundary of the bullish channel and the continuation of the fall into the area below the level of 1.2150.
USD/CAD weekly forecast April 16 — 20, 2018 assumes an attempt of testing the support area near the level of 1.2550 and continuing growth with a target above 1.3180, an additional signal in favor of growth will be a trend line test on the indicator of relative strength index (RSI).