The USD/CAD currency pair ends the trading week with a decline, marking the beginning of a bearish “Wolfe Wave” pattern. Moving averages point to an underlying bullish trend. Prices have broken upward through the area between the signal lines, indicating mounting pressure from buyers and the potential for further gains in the near term. For now, we should anticipate an attempt to push higher, testing the resistance zone near 1.4225. This would likely be followed by a downward rebound, with quotes falling toward a target below the 1.3745 level.
USD/CAD Weekly Forecast October 19 – 23, 2026
An additional signal supporting a decline in the USD/CAD pair would be a test of the resistance line on the Relative Strength Index (RSI) indicator. A second signal would be a rebound from the upper boundary of the “Wolfe Wave” reversal pattern. The bearish scenario for the week of October 19–23, 2026, would be invalidated by a strong rally that breaks through the 1.4445 area; such a move would signal a breakout above resistance and point to further gains toward the 1.4685 level. A confirmation of the decline would be a break below the support level, with a close beneath 1.4025, indicating a breach of the lower boundary of the bullish channel.
USD/CAD Weekly Forecast October 19 – 23, 2026 suggests an attempt at a correction, with a test of the resistance zone near the 1.4225 level. Furthermore, a continued decline is expected, targeting levels below 1.3745. A test of the resistance line on the Relative Strength Index (RSI) would serve as an additional signal favoring a downward move. This bearish scenario would be invalidated by a strong rally and a breakout above the 1.4445 area; such a move would indicate a breach of a key resistance level and suggest further upside, with a target above 1.4685.
