The currency pair US Dollar to Canadian Dollar USD/CAD continues to move in line with expectations. It is worth waiting for an attempt to test the upper limit of the bearish channel near 1.2350 from which we should expect a rebound and fall of quotations of the pair below the level of 1.2050.
USD/CAD forecast & technical analysis on September 7, 2017
In favor of a rebound in the Canadian Dollar quotes, the support line test on the relative strength indicator (RSI) appears upward. The cancellation of the USD/CAD fall on the Forex market will result in a strong growth and breakdown of the 1.25 area, which indicates that the pair will continue to grow with a potential target above 1.2700.
Important news from Canada, which may affect the rate of the pair USD/CAD, is not expected so the pair will continue to move in the technical analysis USD/CAD.
USD/CAD forecast & technical analysis on September 7, 2017 suggests a rebound from the upper boundary of the channel and the continuation of the fall with a potential target at 1.2050, the cancellation of the drop will break through the level of 1.25.