Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2764. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair US Dollar/Canadian Dollar. The test area of the Ichimoku Kinko Hyo signal lines near the level of 1.2840 is expected, from which it is expected to attempt a rebound and continue falling USD/CAD with the target at 1.2650.
Canadian Dollar forecast USD/CAD April 5, 2018
An additional signal in favor of the fall of the pair is the resistance level test. Previously, a strong signal was received for the sell of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at the level of 1.2905.
The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 1.2945, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling USD/CAD quotes is with the breakdown of the support area and closing below the level of 1.2750.