The USD/CAD currency pair finished the trading week with a decline as part of the early development of a large reversal “Head and Shoulders” pattern. Moving averages indicate the presence of a bearish trend. The price broke below the area between the signal lines, signaling selling pressure and a potential continuation of the decline in the near term. At this stage, a minor bullish correction is expected with a test of the resistance area near 1.3685. After that, a rebound downward is likely, followed by continued decline with a target below 1.3165.
USD/CAD Weekly Forecast March 2 – 6, 2026
An additional signal in favor of further decline will be a test of the resistance line on the RSI indicator. The second signal will be a rebound from the upper boundary of the bearish channel. The bearish scenario will be canceled by strong growth and a breakout above 1.3895. This would indicate a breakout of resistance and continued growth toward levels above 1.4265. Confirmation of the decline will come from a breakout of the support level and a close below 1.3495.
USD/CAD Weekly Forecast March 2 – 6, 2026 suggests a bullish correction toward 1.3685, followed by continued decline below 1.3165. A breakout above 1.3895 would cancel the bearish scenario and open the way for growth above 1.4265.
