Quotations of the currency pair US Dollar to Canadian Dollar USD/CAD are trading at 1.3647. At the moment, the pair’s quotes are testing the support area. It is expected to increase the quotations of the pair US Dollar to Canadian Dollar in the resistance area at 1.3770. In case of breakdown of the resistance level, we should expect the continuation of the growth of the currency pair USD/CAD with a target above 1.3850.
USD/CAD forecast & technical analysis on May 19, 2017
In favor of growth is the test of the bullish trend line on the MACD indicator, as well as the test of the lower boundary of the rising channel. Cancellation of the variant of growth of quotations of the currency pair US Dollar to Canadian Dollar will be a breakdown of the support level and consolidation of quotations below the level of 1.3490. However, as the main option, we should expect USD/CAD quotations to rise above 1.3770.
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