The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2757. The pair continues to move within the bullish channel. At this point, we should expect an attempt to test the lower border of the channel near the area of 1.2650 and continue the growth of quotations for a target above 1.3250 level.
USD/CAD weekly forecast May 14 — 18, 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). The cancellation of the continuation of USD/CAD quotes growth in the current trading week will be the fall and breakdown of the area of 1.2540, 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 1.2250. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closing above the level of 1.3050.
USD/CAD weekly forecast May 14 — 18, 2018 suggests a test of support area attempt to near the level of 1.2650 and continued growth with a target above the level 1.3250, an additional signal in favor of growth will make the test trend line on the indicator of relative strength index (RSI), the cancellation option growth will breakdown of the area of 1.2540, which indicates the breakdown of the lower boundary of the bullish channel and the continuation of the fall of the pair.
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