The currency pair US Dollar to Canadian Dollar USD/CAD is trading at the level of 1.3318. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend for the pair USD US Dollar. At the moment, quotes of the pair test the lower boundary of the bands of the Bollinger Bands indicator. It is worth waiting for an attempt to grow and test the middle border of the Bollinger Bands indicator bars near the level of 1.3375, where again we should expect an attempt to continue falling with the first target near the level of 1.3270.
Bollinger Bands USD/CAD forecast April 12, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3460. The cancellation of the continuation of the fall of the pair USD/CAD will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotes above the area of 1.3490, which indicates a change in the trend in favor of the bull in the pair US Dollar Canadian dollar. In the event of a breakdown of the lower border of the indicator bars, we expect to accelerate the fall of the pair into the area below the level of 1.3270.
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