The currency pair US Dollar to Canadian Dollar USD/CAD continues to move in the fall. It is worth waiting for an attempt to test the upper limit of the bearish channel near 1.2270 from which it is expected to rebound and fall of quotations of the pair below the level of 1.2050.
USD/CAD forecast & technical analysis on September 8, 2017
In favor of falling quotations of the Canadian Dollar will test the resistance 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 area of 1.2350, which will indicate the continued growth of the pair with a potential target above the level of 1.2500.
Among the important news from Canada, which may affect the rate of the pair USD/CAD, it is worth highlighting: Unemployment rate, Change in the number of employed.
USD/CAD forecast & technical analysis on September 8, 2017 suggests a test of the upper border of the channel and the continuation of the fall with a potential target at 1.2050, the cancellation of the drop in quotes will break through the level of 1.25.
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