The US Dollar/Canadian Dollar (USD/CAD) currency pair continues to move within a declining trend and a descending channel. At the time of this forecast, the US Dollar to Canadian Dollar exchange rate is 1.3614. Moving averages indicate a short-term bearish trend for the pair. Prices have broken above the signal lines, indicating buying pressure and potential continued growth in the pair in the near future. Currently, a bullish correction in the Canadian Dollar price and a test of resistance near 1.3645 should be considered. Subsequently, a downward rebound and continued decline in the currency pair on Forex are likely. A potential target for this movement is below 1.3475.
Canadian Dollar Forecast USD/CAD for January 28, 2026
An additional signal favoring a rise in the Canadian Dollar will be a break of the support line on the relative strength indicator (RSI). A second signal favoring an uptrend will be a break of the upper boundary of the bearish channel. A strong rally and a break of the 1.3755 level would cancel out the USD/CAD downtrend on Forex. This would indicate a break of the resistance area and continued growth above 1.3985. Confirmation of the pair’s decline should be expected with a break of the support area and a close of USD/CAD below 1.3605.
Canadian Dollar Forecast USD/CAD for January 28, 2026 suggests an attempt to test the resistance area near 1.3645. Further declines are expected below 1.3475. A test of the resistance line on the relative strength indicator (RSI) will be an additional signal for the Canadian dollar to decline on Forex. A strong rally and a breakout of 1.3755 would cancel out the downward trend in USD/CAD. This would indicate continued declines in the asset’s value, with a potential target below 1.3985.
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