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 resistance area near the level of 1.3020 and continue falling of the pair in the area below the level of 1.2690 within the beginning of the development of the reversal model «Head and Shoulders».
USD/CAD forecast & technical analysis March 27, 2018
In favor of falling quotations of the Canadian Dollar, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the USD/CAD fall on the Forex market will be strong growth and breakdown of the 1.3130 area, which will indicate the breakdown of the local maximum and the continuation of growth to the area above 1.3250. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of quotations below the level of 1.2800.
USD/CAD forecast & technical analysis March 27, 2018 suggests an attempt to test the resistance level near 1.3020 and continue falling to the area below the level of 1.2690, an additional signal in favor of the fall will test the trend line on the indicator of relative strength index (RSI), the cancellation of the Canadian Dollar fall will be a breakdown level 1.3130.