The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the limits of the decline. At this point, we should expect an attempt to rebound the pair’s quotes from the support level with a potential growth target above the level of 1.2850.
USD/CAD forecast & technical analysis on August 18, 2017
In favor of the rebound and the growth of quotations of the pair is the test of the support line on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be the breakdown of the area of 1.2600, which will indicate the continuation of the pair’s decline to the area of 1.2400.
Among the important news from Canada, which may affect the rate of USD/CAD, it is worth highlighting: the Consumer Price Index, the Basic Consumer Price Index.
USD/CAD forecast & technical analysis on August 18, 2017 suggests a rebound from the support level and the beginning of growth with a potential target near the area of 1.2850, an additional signal is the trend line test on the relative strength indicator (RSI).
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