The USD/CAD currency pair continues to move within the framework of the development of a fall and a descending channel. At the time of publication of the forecast, the US Dollar to Canadian Dollar exchange rate is 1.4047. Moving averages indicate a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downwards, 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 bullish correction in the Canadian Dollar price and a test of the resistance level near the 1.4125 area. Next, a downward rebound and a continuation of the fall of the currency pair on Forex. The potential target of such a movement of the instrument is the area below the 1.3885 level.
Canadian Dollar Forecast USDCAD for April 11, 2025
An additional signal in favor of a fall in Canadian Dollar quotes will be a test of the resistance line on the relative strength indicator. The second signal in favor of a fall will be a rebound from the upper border of the bearish channel. Cancellation of the option of a fall in the USD/CAD currency pair on Forex will be a strong growth and a breakout of the 1.4335 area. This will indicate a breakout of the resistance area and a continuation of the growth of quotes to the area above the 1.4575 level. Expect confirmation of the pair’s fall with a breakout of the support area and closing of the USD/CAD quotes below 1.4045.
Canadian Dollar Forecast USDCAD for April 11, 2025 suggests an attempt to test the resistance area near 1.4125. Further, a continuation of the fall to the area below 1.3885. An additional signal in favor of the decline of the Canadian Dollar on Forex will be a test of the trend line on the relative strength indicator. The cancellation of the option of a fall in USD/CAD quotes will be a strong growth and a breakout of the 1.4335 level. This will indicate a continuation of the rise in the value of the asset with a potential target above the 1.4575 level.
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