The currency pair US Dollar to Canadian Dollar USD/CAD is trading at 1.3317. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend in the Pare US Dollar Canadian dollar. At the moment, quotes of the pair move between the lower and middle boundaries of the bands of the indicator Bollinger Bands. It is worth waiting for an attempt to grow and test the middle border of the indicator bars near the level of 1.3350, where again we should expect an attempt to continue falling with the first target near the level of 1.3230.
Bollinger Bands USD/CAD forecast on April 3, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 1.3390. The cancellation of the continuation of the USD/CAD pair falling will be a breakdown of the upper border area, as well as the moving average and the closing of the quotations of the pair above the 1.3450 area, which will indicate 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 should expect an acceleration of the fall of the pair in the area below the level of 1.3230.
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