The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2160. The pair continues to move within the bearish channel. At this point, we should expect an attempt to correct the pair in the 1.2400 area, from which it is expected to continue falling with the target below the area of 1.1950.
USD/CAD weekly forecast on September 18 — 22, 2017
In favor of the fall of the pair, a bearish resistance test of the relative strength indicator (RSI) will perform. The cancellation of the USD/CAD decline in the current trading week will be a strong growth and breakdown of the area of 1.2550, indicating that the growth continues above the level of 1.2750.
Among the important news from Canada, which may have an impact on the Canadian Dollar rate, it is worth highlighting: the Consumer Price Index.
USD/CAD weekly forecast on September 18 — 22, 2017 involves an attempt to test the upper border of the channel near the level of 1.24 and then continue the decline, an additional signal in favor of the fall will be a test of the trend line on the indicator of relative strength index (RSI).
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