The currency pair US Dollar Canadian Dollar USD/CAD continues to move within the framework of correction development and the beginning of realization of the reversal pattern “Wedge”. Now of forecast publication the USD/CAD exchange rate is 1.3688. Moving averages indicate the presence of a short-term bearish trend on the pair. Prices broke through the area between the signal lines downward, which indicates the pressure from the sellers and the potential continuation of of the pair’s decline soon. Now, we should consider an attempt to develop a bearish correction of the Canadian Dollar price and a test of the support level near the area of 1.3645. Further, a rebound upwards and continuation of the currency pair growth on Forex. The potential target of such movement of the instrument is the area above the level of 1.3865.
Canadian Dollar Forecast USD/CAD for June 11, 2025
An additional signal in favor of the Canadian Dollar quotes rise will be a test of the support line on the relative strength indicator (RSI). The second signal in favor of growth will be a breakaway from the upper boundary of the reversal pattern “Wedge”. Cancellation of the growth option of the USD/CAD currency pair at Forex will be a fall and breakdown of the 1.3545 area. This will indicate the breakdown of the support area, and the continuation of the quotes fall to the area below the level of 1.3265. We should expect confirmation of the pair growth with the breakdown of the resistance area and the closing of USD/CAD quotes above the level of 1.3785, which will indicate the breakdown of the upper boundary of the descending channel.
Canadian Dollar Forecast USD/CAD for June 11, 2025 suggests an attempt to test the support area near the level of 1.3645. Further, the continuation of growth to the area above the level of 1.3865. An additional signal in favor of the growth of the Canadian Dollar on Forex will be a test of the support line on the relative strength indicator. A fall and breakdown of the level of 1.3545 will cancel the variant of USD/CAD quotes rise. This will indicate the continuation of the decline in the value of the asset with a potential target below the level of 1.3265.
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