The pair Canadian Dollar to US Dollar USD/CAD completes the trading week near the level of 1.3389. The pair continues to move in growth. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to reduce and test the support level near 1.3225. Then the growth of quotations continued with the target above the level of 1.3785.
USD/CAD weekly forecast & analysis December 17 — 21, 2018
A test of the rising trend line on the relative strength index (RSI) will be in favor of the growth of the USD/CAD pair. As well as a rebound from the support area on the price chart. Cancellation of the growth option of the USD/CAD quotes in the current trading week December 17 — 21, 2018 will be a fall and a breakdown of the 1.2970 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of falling into the region below the level of 1.2650. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above 1.3475.
Among the important news from Canada, which may have an impact on the Canadian Dollar rate, it is worth highlighting: Changes in GDP, Consumer Price Index.
USD/CAD weekly forecast & analysis December 17 — 21, 2018 implies an attempt to test the support area near the level of 1.3225. Further, the beginning of growth with the goal above the level of 1.3785. An additional signal in favor of growth will be a test of the trend line on the relative strength index (RSI). Cancellation options for the upward trend will be the fall and the breakdown of 1.2970. This will indicate a breakdown of the lower boundary of the channel and a continued decline in the pair.
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