The currency pair Canadian Dollar to US Dollar USD/CAD ends the trading week with a correction within the descending channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines downwards, which indicates growing pressure from sellers of the currency pair and a potential continuation of the fall in the near future. At the moment, we should expect an attempt to develop a bullish correction and a test of the resistance level near the 1.3845 area. Then, a rebound downwards and a continuation of the fall in quotes with a target below the level of 1.3175.
USD/CAD Weekly Forecast April 27 – May 1, 2026
An additional signal in favor of a fall in the USD/CAD currency pair will be a test of the resistance line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the upper border of the downward channel. Cancellation of the option of falling quotes of the USD/CAD currency pair in the current trading week of April 27 – May 1, 2026 will be a strong growth and a breakdown of the 1.4185 area. This will indicate a breakdown of resistance and continued growth to the area above the level of 1.4565. Confirmation of a fall in the pair will be a breakdown of the support level and closing of the price below the level of 1.3565.
USD/CAD Weekly Forecast April 27 – May 1, 2026 suggests an attempt to develop a bullish correction and test the resistance area near the level of 1.3845. Further, continuation of the fall with the target below the level of 1.3175. An additional signal in favor of a decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the fall scenario will be a strong growth and a breakdown of the 1.4185 area. This will indicate a breakdown of an important resistance level and a continuation of the rise with a target above 1.4565.
