Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of an upward correction. At the moment, we should expect an attempt to test the level of 1.2550 and continue the fall of the pair with a target at 1.2350.
USD/CAD prediction & technical analysis on October 13, 2017
In favor of lowering the quotes of the Canadian Dollar, the test breaks the border of the bullish channel, as well as the formation of the «Head and Shoulders» reversal pattern. Canceling the USD/CAD decline on Forex will be a strong growth and breakdown of the area of 1.2605, which indicates that the pair continues to grow above the level of 1.2670. To expect the acceleration of the fall of the Canadian Dollar is with the breakdown of the level of 1.2480.
USD/CAD prediction & technical analysis on October 13, 2017 assumes a test of the level of 1.2550, where it is expected to continue falling of the pair with a target below 1.2350, the cancellation of the Canadian Dollar decline option will be strong growth and breakdown at the level of 1.2605, in which case it is expected to continue growth pair.