The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2919. At the moment, we should expect an attempt at a resistance level near the 1.3060 area and the continuation of the drop in quotations below the level of 1.2450, as part of the start of the development of the «Head and Shoulders» reversal model.
USD/CAD weekly forecast on March 26 — 30, 2018
In favor of the fall of the pair, a downtrend line test will perform on the relative strength index (RSI). The abolition of the continuation of the USD/CAD decline in the current trading week will be strong growth and breakdown of the 1.3350 area, which will indicate the breakdown of the resistance area and the continuation of growth.
USD/CAD weekly forecast on March 26 — 30, 2018 suggests a test of the resistance area near the level of 1.3060 and the continuation of the fall with a target below 1.2450, an additional signal in favor of the fall will be a trend line test on the indicator of relative strength index (RSI).