Currency pair US Dollar to Canadian Dollar USD/CAD continues to move within the framework of the formation of the reversal model «Double Top». At this point, we should expect an attempt to test the broken trend line near the area of 1.2510 and continue falling below the level of 1.2340.
USD/CAD prediction & technical analysis on October 20, 2017
In favor of lowering the quotes of the Canadian Dollar, a rebound will come from the resistance area of the relative strength indicator (RSI). Cancellation of the USD/CAD decline on Forex will be strong growth and breakdown of the area of 1.2650, which will indicate that the pair continues to grow above the level of 1.2750.
USD/CAD prediction & technical analysis on October 20, 2017 involves trying to test the breakdown of the support area and continuing the fall of the pair below 1.2340, within the framework of the start of the reversal pattern, the cancellation of the Canadian Dollar fall will be a strong growth and 1.2650 breakdown, in this case we should expect the pair to continue growing.