The Canadian Dollar to US Dollar (USD/CAD) currency pair is ending the trading week on a downward note, but remains open. Moving averages indicate an uptrend. Prices are again testing the area between the signal lines, indicating growing buying pressure on the currency pair and potential continued growth in the near future. Currently, we expect an attempt at growth and a test of the resistance level near 1.3995. This should be followed by a downward rebound and continued decline with a target below 1.3305.
USD/CAD Weekly Forecast August 17 – 21, 2026
An additional signal supporting a decline in the USD/CAD currency pair will be a test of the resistance line on the relative strength indicator (RSI). A second signal will be a rebound from the lower boundary of the bullish channel. A strong rally and a breakout of the 1.4225 area would cancel the downside scenario for the USD/CAD currency pair during the current trading week of August 17-21, 2026. This would indicate a breakout of resistance and continued growth above 1.4605. A decline in the pair would be confirmed by a breakout of support and a price close below 1.3745, which would indicate a breakout of the lower boundary of the bullish correction channel.
USD/CAD Weekly Forecast August 17 – 21, 2026 suggests an attempt to continue the upside and test the resistance area near 1.3995. Further decline is then expected with a target below 1.3305. An additional signal in favor of a decline would be a test of the resistance line on the relative strength indicator. A strong rally and a breakout of the 1.4225 area would cancel the downside scenario. This will indicate a breakout of a key resistance level and a continued rise with a target above 1.4605.
