The USD/CAD currency pair continues to move within the framework of growth and the formation of a “Wedge” pattern. At the time of publication of the forecast, the US dollar to Canadian dollar exchange rate is 1.3734. Moving averages indicate a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the pair’s decline soon. Now, it is worth considering an attempt to develop a decline in the Canadian dollar price and a test of the support level near the 1.3635 area. Further, an upward rebound and continued growth of the currency pair on Forex. The potential target for such a movement of the instrument is the area above the 1.4265 level.
USD/CAD Weekly Forecast June 23 — 27, 2025
An additional signal in favor of the growth of the Canadian dollar quotes will be a test of the support line on the relative strength index (RSI). The second signal in favor of growth will be a rebound from the lower border of the bullish channel. A fall and breakout of the 1.3565 area will cancel the option of a rise in the USD/CAD currency pair on Forex. This will indicate a breakout of the support area and a continuation of the decline in quotes to below the 1.3285 level. Confirmation of the pair’s growth should be expected with a breakout of the resistance area and the closing of the USD/CAD pair above the 1.3855 level, which will indicate a breakout of the upper border of the “Wedge” model and the beginning of the pattern’s implementation with targets at the top.
USD/CAD Weekly Forecast June 23 — 27, 2025 suggests an attempt to test the support area near the 1.3635 level. Further, growth will continue to the area above the 1.4265 level. An additional signal in favor of the rise of the Canadian dollar on Forex will be a test of the support line on the relative strength indicator. A fall and breakout of the 1.3565 level will cancel the USD/CAD growth scenario. This will indicate a continuation of the asset’s decline with a potential target below the 1.3285 level.
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