The US Dollar/Canadian Dollar (USD/CAD) currency pair continues to move as it continues to decline and begins to implement a Head and Shoulders reversal pattern. At the time of this forecast’s publication, the US Dollar to Canadian Dollar exchange rate is 1.3674. Moving averages indicate a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, indicating bearish pressure and potential continued decline in the pair in the near future. At this point, we should consider an attempt to develop a bullish correction in the Canadian Dollar price and a test of resistance near 1.3705. Subsequently, a downward rebound and continued decline in the currency pair on Forex are possible. A potential target for such a move is below 1.3435.
Canadian Dollar Forecast USD/CAD for March 17, 2026
An additional signal favoring a decline in the Canadian Dollar will be a break of the resistance line on the relative strength indicator (RSI). A second signal favoring a decline will be a break from the upper boundary of the Head and Shoulders pattern. A strong rally and a breakout of the 1.3805 area would cancel out the downside scenario for the USD/CAD currency pair on Forex. This would indicate a breakout of the resistance area and continued growth above 1.4165. Confirmation of the pair’s decline should be expected with a breakout of the support area and a close below 1.3485, which would indicate a breakout of the lower boundary of the Head and Shoulders reversal pattern and the beginning of the pattern’s implementation with targets below.
Canadian Dollar Forecast USD/CAD for March 17, 2026 suggests an attempt to test the resistance area near 1.3705. Subsequently, a continued decline below 1.3435. An additional signal supporting a decline in the Canadian dollar on Forex will be a test of the resistance line on the relative strength indicator. A strong rally and a breakout of 1.3805 would cancel out the downward trend in USD/CAD. This would indicate continued price appreciation with a potential target above 1.4165.
