The Canadian Dollar to US Dollar (USD/CAD) currency pair is ending the trading week on a positive note. Moving averages indicate a bearish trend. Prices have broken above the area between the signal lines, indicating upward pressure from buyers of the currency pair and potential continued growth in the near future. Currently, we should expect an attempt at a bullish correction and a test of the resistance level near 1.3985. This should be followed by a downward rebound and continued decline with a target below 1.3265.
USD/CAD Weekly Forecast January 19 – 23, 2026
An additional signal favoring 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 upper boundary of the bearish channel. A strong rally and a breakout of the 1.4185 area would cancel out the USD/CAD downside scenario for the current trading week of January 19-23, 2026. This would indicate a breakout of resistance and continued growth above 1.4375. A breakout of support and a price close below 1.4135 would confirm a decline, signaling a breakout of the upper boundary of the descending channel.
USD/CAD Weekly Forecast January 19 – 23, 2026 suggests an attempt to develop a bullish correction and test the resistance area near 1.3985. Further decline is then expected with a target below 1.3265. An additional signal favoring a decline would be a test of the resistance line on the relative strength indicator. A strong rally and a breakout of the 1.4185 area would cancel out the downward trend. This would indicate a breakout of a key resistance level and a continued rise with a target above 1.4375.
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