The Canadian dollar/US dollar currency pair (USD/CAD) is ending the trading week with a correction within a bearish channel. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines downwards, indicating pressure from sellers of the currency pair and a potential continuation of the decline in the near future. At the moment, we should expect an attempt to decline and test the support level near the 1.3545 area. Then, a rebound upward and continued growth in quotes with a target above the 1.4125 level.
USD/CAD Weekly Forecast July 21 — 25, 2025
An additional signal in favor of the growth of the USD/CAD currency pair will be a test of the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. A fall and breakout of the 1.3365 area will cancel the option of a rise in the USD/CAD currency pair during the current trading week of July 21 — 25, 2025. This will indicate a breakout of support and a continuation of the decline to below 1.3085. Confirmation of growth in the pair will be a breakout of the resistance level and a close above 1.3865, which will indicate a breakout of the upper border of the downward channel.
USD/CAD Weekly Forecast July 21 — 25, 2025 suggests an attempt to develop a bearish correction and test the support area near the 1.3545 level. Further, growth will continue with a target above the 1.4125 level. An additional signal in favor of growth will be a test of the trend line on the relative strength indicator. A fall and breakout of the 1.3365 area will cancel the rise scenario. This will indicate a breakout of an important support level and a continuation of the fall with a target below 1.3085.
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