The currency pair US Dollar to Canadian Dollar USD/CAD continues to move within a downward momentum. It is expected to continue the decline in quotations in the area of 1.2395, after correction to the level of the upper boundary of the channel. In favor of falling quotations of the Canadian Dollar will perform a test of the resistance line on the indicator of relative strength index (RSI).
USD/CAD forecast & technical analysis on August 30, 2017
The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the area of 1.2540, which will indicate the continued growth of the pair.
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 30, 2017 assumes a test of the upper border of the channel near the 1.25 area and the continuation of the decline with a potential target at 1.2395, an additional signal will be a trend line test on the relative strength indicator (RSI), the cancellation will be a breakdown at 1.2540 level.
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