The USD/CAD currency pair continues to move within the development of the correction and the formation of the “Triangle” model. At the time of publication of the forecast, the US Dollar to Canadian Dollar exchange rate is 1.3831. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continuation of the growth of the price pair 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 1.3865 area. Then, a downward rebound and continued fall of the currency pair on Forex. The potential target of such movement of the instrument is the area below the 1.3665 level.
Canadian Dollar Forecast USDCAD for April 30, 2025
An additional signal in favor of a decrease 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 “Triangle” model. The cancellation of the USD/CAD fall scenario on Forex will be a strong growth and a breakout of the 1.3945 area. This will indicate a breakout of the resistance area and continued growth of quotes to the area above 1.4205. Confirmation of the pair’s fall should be expected with a breakout of the resistance area and closing of USD/CAD quotes below 1.3765, which will indicate a breakout of the lower border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets below.
Canadian Dollar Forecast USDCAD for April 30, 2025 suggests an attempt to test the resistance area near the 1.3865 level. Further, a continuation of the fall to the area below the 1.3665 level. 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 USD/CAD quotes fall option will be a strong growth and a breakout of the 1.3945 level. This will indicate a continued growth in the asset value with a potential target above the 1.4205 level.
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