The currency pair US Dollar to Canadian Dollar USD/CAD continues to move near the area of 1.2650. At the moment, we should expect a test of the broken down boundary of the descending channel and the continuation of the pair’s growth above the level of 1.2930.
USD/CAD forecast & technical analysis on August 8, 2017
In favor of the growth of USD/CAD quotes is the breakdown of the bearish trendline on the indicator of relative strength index (RSI). The cancellation of the growth option will be the fall and breakdown of the area of 1.2580, which will indicate the continuation of the pair’s decline.
Important news from Canada, which may have an impact on the USD/CAD rate, is not expected, so the pair will continue to move within the technical analysis USD/CAD.
USD/CAD forecast & technical analysis on August 8, 2017 involves an attempt to test the upper border of the channel and continue the growth of the pair above the level of 1.2940, an additional signal is a breakdown of the resistance line 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
