The USD/CAD currency pair continues to move within the framework of growth and the beginning of a pattern with targets at the top. At the time of publication of the forecast, the US dollar to Canadian dollar exchange rate is 1.3682. 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 in the near future. At the moment, it is worth considering an attempt to develop growth in the Canadian dollar price and a test of the resistance level near the 1.3665 area. Further, an upward rebound and continued growth of the currency pair on Forex. The potential target for such a movement of the instrument is the area above the 1.3755 level.
Canadian Dollar Forecast USD/CAD for July 9, 2025
An additional signal in favor of the growth of the Canadian dollar quotes will be a test of the support line on the relative strength index (RSI). The second signal in favor of the rise will be a rebound from the upper border of the “Triangle” pattern. A fall and breakout of the 1.3625 area will cancel the growth scenario for the USD/CAD currency pair on Forex. This will indicate a breakout of the support area and a continuation of the decline in quotes to below the 1.3455 level. Confirmation of the pair’s growth should be expected with a breakout of the resistance area and the closing of the USD/CAD pair above the 1.3705 level.
Canadian Dollar Forecast USD/CAD for July 9, 2025 suggests an attempt to test the support area near the 1.3665 level. Further, growth will continue to the area above the 1.3755 level. An additional signal in favor of the Canadian dollar’s growth on Forex will be a test of the support line on the relative strength indicator. A fall and breakout of the 1.3625 level will cancel the option of a rise in USD/CAD quotes. This will indicate a continuation of the decline in the asset’s value with a potential target below the 1.3455 level.
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