The USD/CAD currency pair continues to move within a downward trend and a descending channel. At the time of publication, the US dollar to Canadian dollar exchange rate is 1.3569. Moving averages indicate a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downwards, indicating 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 of the Canadian dollar price and a test of the resistance level near the 1.3615 area. Further, a rebound downwards and a continuation of the currency pair’s decline on Forex. The potential target for such a movement of the instrument is the area below the 1.3485 level.
Canadian Dollar Forecast USD/CAD for June 17, 2025
An additional signal in favor of a decline in the Canadian dollar will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of a decline will be a rebound from the upper border of the downward channel. A strong growth and a breakout of the 1.3655 area will cancel the decline of the USD/CAD currency pair on Forex. This will indicate a breakout of the resistance area and a continuation of the rise in quotes to the area above the 1.3805 level. Confirmation of the pair’s decline should be expected with a breakout of the support area and the closing of the USD/CAD pair below the 1.3565 level.
Canadian Dollar Forecast USD/CAD for June 17, 2025 suggests an attempt to test the resistance area near the 1.3615 level. Further, the decline will continue to the area below the 1.3485 level. An additional signal in favor of a decline in the Canadian dollar on Forex will be a test of the resistance line on the relative strength indicator. A strong rise and a breakout of the 1.3655 level will cancel the option of a decline in USD/CAD quotes. This will indicate a continuation of the asset’s rise with a potential target above the 1.3805 level.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
