The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2961. The pair continues to move within the bullish channel. At the moment, we should expect the test of the support area test near the level of 1.2830 and the continuation of the growth of quotations with a target above the level of 1.3500.
USD/CAD weekly forecast June 4 — 8, 2018
In favor of the growth of the pair USD/CAD will test the bullish 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 1.2680, 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 1.2300. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above the level of 1.3000.
USD/CAD weekly forecast June 4 — 8, 2018 suggests an attempt of testing the support area near the level of 1.2830 and continuing growth with a target above 1.3500, an additional signal in favor of growth will be a trend line test on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
