The currency pair USD/CAD continues its movement within the framework of a decline development and a descending channel. Now of writing, the USD/CAD exchange rate is at 1.3718. Moving averages indicate a short-term bearish trend for this pair. Prices have broken through the area between the signal lines downward, which indicates pressure from sellers and potential continuation of the pair’s decline soon. Currently, it would be appropriate to consider an attempt to develop a bullish correction in the Canadian dollar price and testing resistance level close to the region around 1.3755. A subsequent drop and further depreciation of the currency pair on Forex are expected. The potential target for this movement could be an area below the level of 1.3575.
Canadian Dollar Forecast USD/CAD for May 27, 2025
Additional indication for the Canadian Dollar’s prices to decrease is a test of the resistance line on the Relative Strength Index (RSI) indicator. The second signal in favor of depreciation is a bounce off the upper border of the bear channel. Cancellation of the USD/CAD currency pair falling option on Forex would be a strong rise and penetration into the area of 1.3815. This indicates a breakthrough the resistance zone and continuation of price rises to an area above the level of 1.3985. A confirmation of the pair’s depreciation should be awaited with a break-through the support area and closing prices of the USD/CAD currency pair below the level of 1.3655.
Canadian Dollar Forecast USD/CAD for May 27, 2025 predicts a test of the resistance area near the level of 1.3755. Following that, further decline to an area below the level of 1.3575. An additional signal in favor of the Canadian Dollar’s decline on Forex will be testing the resistance line on the Relative Strength Index (RSI) indicator. The cancellation of the downside scenario for USD/CAD prices would be a strong rise and breakout through the level of 1.3815, indicating a continuation of the asset’s value increase with potential target above the level of 1.3985.
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