The currency pair Canadian Dollar to US Dollar (USD/CAD) closes the trading week with a strong decline within a bull channel. Moving averages indicate an upward trend. Prices broke through the area between signal lines downwards, which indicates pressure from the sellers of the currency pair and the potential continuation of the decline soon. Currently, it is expected that there will be a downward attempt to test the support level near the region 1.3735. Then, a bounce upwards and continuation of the price quotes increase towards a target above the level 1.4245.
USD/CAD Weekly Forecast May 26 — 30, 2025
Additional signals in favor of the growth of the currency pair USD/CAD will be a test of the support line on the Relative Strength Index (RSI) indicator. The second signal will be a rebound from the lower border of the bullish channel.
The cancellation of the variant of price increase for the USD/CAD currency pair for the trading week from 26 to 30 May 2025 would be a drop and a breach of the area at 1.3505. This will indicate a breakthrough support and continuation of the fall into the region below the level of 1.3245. Confirmation of growth in the pair will be breaking the resistance level and closing price above the level of 1.4125, which indicates a breach of the upper border of the descending channel.
USD/CAD Weekly Forecast May 26 — 30, 2025 suggests an attempt at developing a bearish correction and testing the support area near level 1.3735. Afterwards, continuation of growth towards level 1.4245. An additional bullish signal would be testing the trend line on the Relative Strength Index (RSI) indicator. The reversal of the upward movement scenario would occur with a drop below the region of 1.3505. This will indicate a breach of an important support level and continuation of the decline towards a target below 1.3245.
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