The currency pair Canadian Dollar to US Dollar USD/CAD ends the trading week with a correction within the formation of the reversal pattern “Wedge”. Moving averages indicate the presence of a bearish trend. Prices broke through the area between the signal lines downward, which indicates the pressure from the sellers of the currency pair and the potential continuation of the decline soon. Now, we should expect a downside attempt and a test of the support level near the 1.3565 area. Then, a rebound upward and continuation of quotes growth with a target above 1.4055.
USD/CAD Weekly Forecast July 7 — 11, 2025
An additional signal in favor of the USD/CAD currency pair growth will be a test of the support line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower boundary of the “Wedge” reversal pattern. A fall and breakdown of the 1.3435 area will be the cancellation of the USD/CAD currency pair quotes rise option for the current trading week of July 7 — 11, 2025. This will indicate the breakdown of support and the continuation of the decline to the area below 1.3145. The confirmation of the growth of the pair will be the breakdown of the resistance level and the closing of the price above the level of 1.3865, which will indicate the breakdown of the upper boundary of the reversal pattern “Wedge” and the beginning of the realization of the pattern with upward targets.
USD/CAD Weekly Forecast July 7 — 11, 2025 suggests an attempt to develop a bearish correction and test the support area near the level of 1.3565. Further, the continuation of growth with a target above the level of 1.4055. An additional signal in favor of growth will be a test of the trend line on the relative strength indicator. A fall and breakdown of the 1.3435 area will cancel the upside scenario. This will indicate the breakdown of an important support level and the continuation of the decline with the target below 1.3145.
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