The US Dollar/Canadian Dollar (USD/CAD) currency pair continues to decline and has broken out of its bullish channel. At the time of this forecast, the US Dollar to Canadian Dollar exchange rate is 1.3981. Moving averages indicate a short-term bullish trend for the pair. Prices have broken below the signal lines, indicating selling pressure and potential further decline in the near future. Currently, a bullish correction in the Canadian Dollar price and a test of resistance near 1.4055 should be considered. A subsequent downward rebound and continued decline in the currency pair on Forex are likely. A potential target for this movement is below 1.3845.
Canadian Dollar Forecast USD/CAD for October 23, 2025
An additional signal supporting a decline in the Canadian Dollar will be a test of the resistance line on the relative strength indicator (RSI). A second signal supporting a decline will be a rebound from the lower boundary of the bullish channel. A strong rally and a breakout of the 1.4115 area would cancel out the USD/CAD downside scenario on Forex. This would indicate a breakout of the resistance area and continued growth above 1.4365. Confirmation of the pair’s decline should be expected with a breakout of the support area and a close below 1.3935.
Canadian Dollar Forecast USD/CAD for October 23, 2025 suggests an attempt to test the resistance area near 1.4055. Subsequently, a continued decline below 1.3845 is expected. 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 1.4115 would cancel out the downward trend in USD/CAD. This would indicate continued price appreciation with a potential target above 1.4365.
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