Currency pair US Dollar to Canadian Dollar USD/CAD is trading at the level of 1.3485. Quotes of the pair are trading below the moving average with a period of 55, indicating a bearish trend for the pair US Dollar to Canadian Dollar USD/CAD. At the moment, quotes of the pair test the lower boundary of the bands of the Bollinger Bands indicator. It is expected to test the average border of the Bollinger Bands indicator near the level 1.3580, where again we should expect an attempt to continue falling with the first target near the level 1.3400.
USD/CAD analytics & prediction on May 23, 2017
An additional signal in favor of the drop is the resistance area test. The conservative sales area is located near the upper boundary of the Bollinger Bands indicator at 1.3670. The cancellation of the continuation of the fall of the pair US Dollar to Canadian Dollar USD/CAD will be a breakdown of the moving average region with a period of 55, as well as the upper boundary of the Bollinger Bands indicator and the closing of the pair’s quotes above the 1.3710 area, which indicates a change in the trend in favor of the bullish in the pair US Dollar to Canadian Dollar USD/CAD. In the event of a breakdown of the lower boundary of the Bollinger Bands, it is expected to accelerate the fall of the pair into the area below the level of 1.3400.
