The US Dollar Canadian Dollar USD/CAD currency pair continues to move within the framework of the development of the fall and the formation of the “Wedge” reversal pattern. At the time of publication of the forecast, the US Dollar to Canadian Dollar exchange rate is 1.3581. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the fall in the price pair in the near future. At the moment, it is worth considering an attempt to develop the fall in the Canadian Dollar price and test the support level near the 1.3555 area. Further, an upward rebound and continued growth of the currency pair on Forex. The potential target of such movement of the instrument is the area above the 1.3745 level.
Canadian Dollar Forecast USD/CAD for July 4, 2025
An additional signal in favor of the growth of Canadian Dollar quotes will be a test of the support line on the relative strength indicator (RSI). The second signal in favor of the rise will be a rebound from the lower border of the “Head and Shoulders” reversal pattern. The cancellation of the growth option of the USD/CAD currency pair on Forex will be a fall and a breakout of the 1.3535 area. This will indicate a breakout of the support area and a continuation of the fall in quotes to the area below the level of 1.3345. Confirmation of the pair’s growth should be expected with a breakout of the resistance area and the closing of the USD/CAD quotes above the level of 1.3645, which will indicate a breakout of the upper border of the “Wedge” reversal pattern and the beginning of the implementation of the pattern with targets at the top.
Canadian Dollar Forecast USD/CAD for July 4, 2025 suggests an attempt to test the support area near the level of 1.3555. Further, continuation of growth to the area above the level of 1.3745. An additional signal in favor of the rise of the Canadian Dollar on Forex will be a test of the support line on the relative strength indicator. The cancellation of the growth option for USD/CAD quotes will be a fall and a breakout of the level of 1.3535. This will indicate a continued decline in the value of the asset with a potential target below the level of 1.3345.
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