The Canadian Dollar to US Dollar (USD/CAD) currency pair is ending the trading week with a decline as a major Head and Shoulders reversal pattern begins to materialize. Moving averages indicate a bearish trend. Prices have broken below the signal lines, indicating downward pressure from sellers of the currency pair and potential continued decline in the near future. Currently, we expect an attempt at a minor bullish correction and a test of the resistance level near 1.3605. This should be followed by a downward rebound and continued decline with a target below 1.3115.
USD/CAD Weekly Forecast March 9 – 13, 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 boundary of the Head and Shoulders reversal pattern. A strong rally and a breakout of the 1.3875 area would cancel the downside scenario for the USD/CAD currency pair during the current trading week (March 2-6, 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.
USD/CAD Weekly Forecast March 9 – 13, 2026 suggests an attempt to develop a bullish correction and test the resistance area near 1.3605. Further decline is then expected with a target below 1.3115. An additional signal in favor of 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 the downside scenario. This will indicate a breakout of a key resistance level and a continued rise with a target above 1.4275.
