The currency pair Canadian dollar against the US dollar USD CAD continues to trade within a large triangle pattern. At the moment, the pair quotes pushed off from the support and we can expect continued growth of quotations USD CAD to the level above the local maximum.
Technical Analysis USD CAD and forecast July 18, 2016
Cancellation option continued upward movement by the Canadian will be a drop in prices USD CAD below 1.28, which points to a continuation of the fall to below 1.25. An additional benefit of the fall signal will test the descending resistance line on the indicator of relative strength, it also points to a potential rebound in the course of reduction.
Technical Analysis USD CAD and forecast July 18, 2016 suggests an attempt to increase in the rebound from the support area with the immediate goal of growth at above 1.3140.
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