The US Dollar/Canadian Dollar (USD/CAD) currency pair continues to move as it continues to decline and completes the formation of a Head and Shoulders reversal pattern. At the time of this forecast, the US Dollar to Canadian Dollar exchange rate is 1.3752. Moving averages indicate a short-term bearish trend for the pair. Prices have broken below the signal lines, indicating selling pressure and potential further decline in the pair in the near future. Currently, a bullish correction in the Canadian Dollar price and a test of resistance near 1.3775 should be considered. A subsequent downward rebound and continued decline in the currency pair on Forex are likely. A potential target for such a move is below 1.3665.
Canadian Dollar Forecast USD/CAD for September 18, 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 upper boundary of the descending channel. A strong rally and a breakout of the 1.3825 area would cancel the downward trend for the USD/CAD currency pair on Forex. This would indicate a breakout of the resistance area and continued growth above 1.4065. Confirmation of the pair’s decline should be expected with a breakout of the support area and a close below 1.3695.
Canadian Dollar Forecast USD/CAD for September 18, 2025 suggests an attempt to test the resistance area near 1.3775. Subsequently, a continued decline below 1.3665 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 (RSI). A strong rally and a breakout of 1.3825 would cancel out the downward trend in USD/CAD. This would indicate continued growth in the asset’s price, with a potential target above 1.4065.
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