The currency pair US Dollar to Canadian Dollar USD/CAD continues to fall. It is worth waiting for a test of the resistance level near 1.2400 from which we should expect a rebound of the quotes falling below the level of 1.22.
USD/CAD forecast & technical analysis on September 6, 2017
In favor of the growth of quotations of the Canadian Dollar is the test of the support line on the indicator of relative strength index (RSI). The cancellation of the USD/CAD fall on the Forex market will be a strong growth and breakdown of the region of 1.25, which will indicate the continued growth of the pair with a potential target above the level of 1.2750.
Among the important news from Canada which can have a strong impact on the rate of the pair USD/CAD, it is worth highlighting: The decision of the Bank of Canada on the basic interest rate is expected to remain unchanged at 0.75%, as well as the accompanying statement of the Bank of Canada.
USD/CAD forecast & technical analysis on September 6, 2017 suggests a rebound from the level of resistance and the continuation of the fall of the pair with a potential target at 1.22, the cancellation of the drop will break through the level of 1.25.
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