Technical analysis of USD/CAD 02/25/2018
The USD/CAD currency pair continues its downward movement on a 1H time frame. At the moment, we should expect an attempt to test the upper limit of the downward channel and the MA100 in the area of 1.3200. After that, we should expect a rebound and continued decline in quotes to the level of 1.3080.
In favor of reducing the quotes of the Canadian Dollar will test the area of resistance on the RSI indicator. Cancellation of the option to reduce USD/CAD will be a strong growth and the breakdown of the 1.3230 area. This will indicate a the upper boundary breakdown of the channel and the continuation of the quotes growth.
Created by Joshua Hayn