The Canadian Dollar to US Dollar currency pair USD/CAD is ending the trading week with a correction as part of the formation of a “Wedge” reversal pattern. 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 soon. Now, we should expect an attempt to decline and test the support level near the 1.3645 area. Then, an upward rebound and continued growth in quotes with a target above the 1.4085 level.
USD/CAD Weekly Forecast June 30 — July 4, 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 indicator). The second signal will be a rebound from the lower border of the “Wedge” reversal pattern. A fall and breakout of the 1.3435 area will cancel the option of a rise in the USD/CAD currency pair during the current trading week of June 30 — July 4, 2025. This will indicate a breakout of support and a continuation of the decline to below 1.3145. Confirmation of growth in the pair will be a breakout of the resistance level and a close above 1.3855, which will indicate a breakout of the upper boundary of the “Wedge” reversal pattern and the beginning of the pattern’s implementation with targets at the top.
USD/CAD Weekly Forecast June 30 — July 4, 2025 suggests an attempt to develop a bearish correction and test the support area near the 1.3645 level. Further, growth will continue with a target above the 1.4085 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 1.3435 area will cancel the upward trend. This will indicate a breakout of an important support level and a continuation of the decline with a target below 1.3145.
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