The US Dollar/Canadian Dollar (USD/CAD) currency pair continues to move within a developing correction and forming a Triangle pattern. At the time of this forecast’s publication, the US Dollar to Canadian Dollar exchange rate is 1.3664. Moving averages indicate a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, indicating bearish pressure and potential continued decline in the pair in the near future. At this point, we should consider an attempt to develop a bullish correction in the Canadian Dollar price and a test of the resistance level near 1.3705. Subsequently, a downward rebound and continued decline in the currency pair on Forex are possible. The potential target for such a move is below 1.3545.
Canadian Dollar Forecast USD/CAD for February 24, 2026
An additional signal supporting a decline in the Canadian Dollar will be a break of the resistance line on the Relative Strength Index (RSI). A second signal supporting a decline will be a break of the upper boundary of the Triangle pattern. A strong rally and a break of the 1.3815 area would cancel the USD/CAD downside scenario on Forex. This would indicate a break of the resistance area and continued growth above 1.4005. Confirmation of the pair’s decline should be expected with a break of the support area and a close of USD/CAD below 1.3615, which would indicate a break of the local support level.
Canadian Dollar Forecast USD/CAD for February 24, 2026 suggests an attempt to test the resistance area near 1.3705. Further declines are expected below 1.3545. A test of the resistance line on the relative strength indicator (RSI) will further signal a decline in the Canadian dollar on Forex. A strong rally and a breakout of 1.3815 would cancel out the downward trend in USD/CAD. This would indicate continued price appreciation with a potential target above 1.4005.
