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 reduce the pair with a target below the area of 1.2320.
USD/CAD prediction & technical analysis on October 3, 2017
In favor of falling quotations of the Canadian Dollar is the resistance line test on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal pattern. Cancellation of the USD/CAD decline on Forex will be strong growth and breakdown of the region of 1.2550, which will indicate that the pair continues to grow above the level of 1.2650. Expect the acceleration of the fall of the Canadian Dollar is with the breakdown of the level of 1.2420.
Important news from Canada, which may affect the rate of the pair USD/CAD, is not expected, so the pair will continue to move in the technical analysis.
USD/CAD prediction & technical analysis on October 3, 2017 involves an attempt to drop the pair with a target near the area of 1.2320, an additional signal is the trend line test on the relative strength indicator (RSI), the cancellation of the Canadian Dollar fall will be stronger than the level of 1.2550.