Technical analysis of USD/CAD 07/11/2018
The USD/CAD pair is developing an upward movement. At the moment, we should expect the pair to grow to the level of 1.3223 within the “Head and shoulders”.
In favor of the growth of quotes USD/CAD is the test of the trend line on the indicator RSI. Cancellation of the USD/CAD growth option will be the fall and breakdown of the area of 1.3090, which will indicate the breakdown of the support area and the continuation of the fall of quotes. Among the important news from Canada, which may affect the rate of the pair USD/CAD, it is worth highlighting: the decision of the Bank of Canada on the basic interest rate, the Covering Statement of the Bank of Canada, the Press Conference of the Bank of Canada.
Created by Joshua Hayn