Currency pair US Dollar Canadian Dollar USD/CAD continues to move within the growth development and bullish channel. At the moment of forecast publication the USD/CAD exchange rate is 1.3984. Moving averages indicate the presence of a short-term bullish trend on the pair. Prices broke through the area between signal lines upwards, which indicates pressure from buyers and potential continuation of the pair’s growth in the near future. At the moment, we should consider an attempt to develop the fall of the Canadian Dollar and test the support level near the area of 1.3925. Further, a rebound upwards and the continuation of the currency pair growth on Forex. The potential target of such movement of the instrument is the area above the level of 1.4185.
Canadian Dollar Forecast USDCAD for May 14, 2025
An additional signal in favor of the growth of the Canadian Dollar quotes will be a test of the support line on the relative strength indicator. The second signal in favor of the fall will be a breakdown from the lower boundary of the descending channel. A fall and breakdown of the 1.3845 area will cancel the growth option of the USD/CAD currency pair at Forex. This will indicate the breakdown of the support area and the continuation of the quotes fall to the area below the level of 1.3575. We should expect confirmation of the pair growth with the breakdown of the resistance area and closing of the USD/CAD pair quotes above the level of 1.4065.
Canadian Dollar Forecast USDCAD for May 14, 2025 suggests an attempt to test the support area near the level of 1.3925. Further, the continuation of growth to the area above the level of 1.4185. An additional signal in favor of the rise of the Canadian Dollar on Forex will be a test of the trend line on the relative strength indicator. A fall and breakdown of the level of 1.3845 will cancel the variant of USD/CAD quotes growth. This will indicate the continuation of the decline in the value of the asset with a potential target below the level of 1.3575.
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