The USD/CAD currency pair continues to move within the framework of growth and the formation of a “Triangle” pattern. At the time of publication of the forecast, the US dollar to Canadian dollar exchange rate is 1.3673. Moving averages indicate a short-term bullish trend for the pair. Prices have broken through the area between the signal lines upwards, indicating pressure from sellers and a potential continuation of the pair’s decline soon. Now, it is worth considering an attempt to develop growth in the Canadian dollar price and a test of the resistance level near the 1.3715 area. Further, a rebound downwards and a continuation of the currency pair’s decline on Forex. The potential target for such a movement of the instrument is the area below the 1.3465 level.
Canadian Dollar Forecast USD/CAD for July 11, 2025
An additional signal in favor of a decline in the Canadian dollar will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of an increase will be a rebound from the upper border of the “Triangle” pattern. A strong rise and a breakout of the 1.3805 area will cancel the possibility of a decline in the USD/CAD currency pair on Forex. This will indicate a breakout of the resistance area and a continuation of the rise in quotes to an area above the 1.3945 level. Confirmation of the pair’s decline should be expected with a breakout of the support area and the closing of the USD/CAD pair below the 1.3555 level, which will indicate a breakout of the lower boundary of the “Triangle” pattern and the beginning of the pattern’s implementation with targets below.
Canadian Dollar Forecast USD/CAD for July 11, 2025 suggests an attempt to test the resistance area near the 1.3715 level. Further, the decline will continue to the area below the 1.3465 level. An additional signal in favor of a decline in the Canadian dollar on Forex will be a test of the resistance line on the relative strength indicator. A strong rise and a breakout of the 1.3805 level will cancel the option of a decline in USD/CAD quotes. This will indicate a continuation of the asset’s rise with a potential target above the 1.3945 level.
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