Technical analysis of USD/CAD 02/18/2018
The USD/CAD currency pair continues its downward corrective movement within the ascending channel on a 1D timeframe. At the moment, we should expect an attempt to test the lower boundary of the channel and the MA200 near the 1.3100 area, after which we should expect a rebound and growth of quotations above the level of 1.3650
In favor of the growth of quotations of the Canadian Dollar after the correction will test the support area on the RSI indicator. Cancellation of the growth option USD/CAD will be the breakdown of the 1.3000 area. This will indicate a breakdown of the lower boundary of the channel and a continued decline in quotations.
Created by Joshua Hayn