The Canadian Dollar to US Dollar (USD/CAD) currency pair is ending the trading week with a strong correction within the Triangle formation. Moving averages indicate a bearish trend. Prices have broken below the area between the signal lines, indicating downward pressure from sellers of the currency pair and potential continued decline in the near future. Currently, we should expect an attempt at a bullish correction and a test of the resistance level near 1.3735. This should be followed by a downward rebound and continued decline with a target below 1.3275.
USD/CAD Weekly Forecast March 16 – 20, 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 and lower border of the Triangle pattern. A strong rally and a breakout of the 1.3875 area would cancel out the USD/CAD downside scenario for the current trading week of March 16-20, 2026. This would indicate a breakout of resistance and continued growth above 1.4275. A breakout of support and a price close below 1.3455 would confirm a decline in the pair, signaling a breakout of the lower boundary of the Triangle pattern and the beginning of a pattern with targets below.
USD/CAD Weekly Forecast March 16 – 20, 2026 suggests an attempt to develop a bullish correction and test the resistance area near 1.3735. Further decline is then expected with a target below 1.3275. 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 1.3875 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 1.4275.
