The pair Canadian Dollar to US Dollar USD/CAD closes the trading week near the level of 1.2100. The pair continues to move within the bearish momentum. At this point, we should expect an attempt to correct the pair in the area of 1.2450, where we can expect the pair to continue to decline.
USD/CAD weekly forecast on September 11 — 15, 2017
In favor of the fall of the pair, a bearish resistance test of the relative strength indicator (RSI) will perform. The cancellation of the USD/CAD decline in the current trading week will result in a strong growth and breakdown of the 1.27 area, which will indicate the formation of the reversal pattern.
Among the important news from Canada that may have an impact on the Canadian Dollar rate, it is worth highlighting: The Bank of Canada’s principal interest rate decision, the Bank of Canada Cover statement, Unemployment rate, Change in the number of employees.
USD/CAD weekly forecast on September 11 — 15, 2017 suggests an attempt of rebound and growth of the pair above the level of 1.2750, an additional signal is the formation of a reversal model on the indicator of relative strength index (RSI), the elimination of the growth variant will break through the level of 1.22.