The currency pair Canadian Dollar to US Dollar USD/CAD continues to move in the fall. At the moment, quotes are testing the local minimum area near the level of 1.3237. It is worth to expect an attempt to increase the pair’s quotations to the area above the level of 1.3270, where we should expect the USD/CAD to rebound and fall below 1.3180.
Technical analysis and USD/CAD forecast on April 14, 2017
In favor of the drop, a down-line resistance test will be performed on the relative strength indicator. In the event of a breakdown of this line, it is expected to accelerate the growth of quotations of the Canadian Dollar in the area above the level of 1.35.
Important news from Canada, which may have an impact on the USD/CAD rate, is not expected, so the pair will continue to move within the technical analysis of USD/CAD.
Technical analysis and USD/CAD forecast on April 14, 2017 involves an attempt to test the upper limit of the descending channel and continue the decline of the pair into the area below the level of 1.32, the breakdown of the trend line on the indicator of relative strength will be canceled.
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