The US Dollar/Canadian Dollar (USD/CAD) currency pair continues to move within a growing and bullish channel. At the time of this forecast, the US Dollar to Canadian Dollar exchange rate is 1.4029. Moving averages indicate a short-term bullish trend for the pair. Prices have broken above the signal lines, indicating buying pressure and potential continued growth in the near future. Currently, we should consider an attempt to further strengthen the Canadian Dollar and test the resistance level near 1.4085. Subsequently, a downward rebound and continued decline in the currency pair on Forex are possible. A potential target for such a move is below 1.3885.
Canadian Dollar Forecast USD/CAD for October 21, 2025
An additional signal favoring a decline in the Canadian Dollar will be a test of the resistance line on the relative strength indicator (RSI). The second signal in favor of a decline will be a rebound from the upper boundary of the bullish channel. A strong rally and a breakout of the 1.4165 area would cancel the USD/CAD decline on Forex. This would indicate a breakout of the resistance area and continued growth above 1.4345. Confirmation of the decline should be expected with a breakout of the support area and a close below 1.3905, which would indicate a breakout of the lower boundary of the bullish channel.
Canadian Dollar Forecast USD/CAD for October 21, 2025 suggests an attempt to test the resistance area near 1.4085. Subsequently, a continued decline below 1.3885. An additional signal in favor of a decline in the Canadian Dollar on Forex would be a test of the resistance line on the relative strength indicator. A strong rally and a breakout of 1.4165 would cancel out the USD/CAD price decline. This would indicate continued price growth with a potential target above 1.4345.
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