The USD/CAD currency pair continues to move within the framework of growth and the beginning of the implementation of the “Wedge” reversal pattern. At the time of publication of the forecast, the US dollar to Canadian dollar exchange rate is 1.3652. Moving averages indicate a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, which indicates 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 a decline in the Canadian dollar price and a test of the support level near the 1.3595 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 1.3875 level.
Canadian Dollar Forecast USD/CAD for June 19, 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 growth will be a rebound from the upper border of the “Wedge” reversal pattern. A fall and breakout of the 1.3445 area will cancel the option of a rise in 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 an area below the 1.3235 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 1.3735 level, which will indicate a breakout of the upper border of the downward channel.
Canadian Dollar Forecast USD/CAD for June 19, 2025 suggests an attempt to test the support area near the 1.3595 level. Further, growth will continue to the area above the 1.3875 level. 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. A fall and breakout of the 1.3445 level will cancel the USD/CAD growth scenario. This will indicate a continuation of the asset’s decline with a potential target below the 1.3235 level.
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