The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of an bullish correction. At this point, we should expect an attempt to drop the pair in the lower boundary area near the level of 1.2680.
USD/CAD forecast & technical analysis on August 16, 2017
Whence again it is necessary to expect the continuation of the growth of the pair USD/CAD above the level of 1.2850. In favor of growth, a test of the support line on the indicator of relative strength index (RSI) will perform. The cancellation of the variant of growth will be the breakdown of the area of 1.2600, which will indicate the continuation of the pair’s decline into the area of 1.2420.
Important news from Canada, which may have an impact on the USD/CAD, is not expected, so the pair will continue to move within the technical analysis USD/CAD.
USD/CAD forecast & technical analysis on August 16, 2017 suggests an attempt to test the lower border of the channel near the area of 1.2680, where again we should expect the USD/CAD pair to continue growing above the level of 1.2850.
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