The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the limits of the decline. At the moment, we should expect an attempt to test the area of 1.2540, where we should expect a rebound and the growth of quotations above the level of 1.27.
USD/CAD forecast & technical analysis on August 22, 2017
In favor of the rebound and growth of the pair’s quotes is the formation of a bullish wave model of Wolfe, as well as a test of the support line on the indicator of relative strength index (RSI). The cancellation of the USD/CAD growth option on Forex will be the breakdown of the area of 1.2500, which will indicate the continuation of the pair’s decline to 1.2400 area and the abolition of the Wolf wave.
Important news from Canada is not expected, so the pair will continue to move in the technical analysis USD/CAD.
USD/CAD forecast & technical analysis on August 22, 2017 suggests a rebound attempt from the level of 1.2540 and the beginning of growth with a potential target near the area of 1.27, as part of the development of the bullish model of the Wolf wave.
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