The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within a bearish momentum. It is expected to continue the decline in quotations in the area of 1.2400, where again we should expect a rebound and growth of quotations of the pair with a potential target near the resistance area at 1.2750.
USD/CAD forecast & technical analysis on August 29, 2017
In favor of the growth of quotations will perform a test of the support area on the indicator of relative strength index (RSI). Cancellation of the USD/CAD growth option on Forex will be a breakdown of the area of 1.23, which will indicate continuation of the pair’s decline to 1.21 area and cancellation of the formation of the reversal model «Double Bottom».
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 29, 2017 implies a drop to the area below the level of 1.24, from which it is expected to rebound and the growth of quotations above the level of 1.2750, an additional signal will test the support area on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
