The Canadian Dollar to US Dollar (USD/CAD) currency pair is ending the trading week with a correction within a descending channel. Moving averages indicate a bearish trend. Prices have broken above the area between the signal lines, indicating upward pressure from buyers of the currency pair and potential continued growth in the near future. Currently, we should expect an attempt at a bullish correction and a test of the resistance level near 1.3995. This should be followed by a downward rebound and continued decline with a target below 1.3435.
USDCAD Weekly Forecast April 6 – 10, 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 boundary of the bearish channel. The USD/CAD currency pair’s downward price action during the current trading week (April 6-10, 2026) would be cancelled by a strong rally and a breakout of the 1.4225 area. This would indicate a breakout of resistance and continued growth above 1.4465. A decline would be confirmed by a breakout of support and a price close below 1.3795, which would indicate a breakout of the lower boundary of the bullish correction channel.
USDCAD Weekly Forecast April 6 – 10, 2026 suggests an attempt to develop a bullish correction and test the resistance area near 1.3995. Further decline is then expected with a target below 1.3435. An additional signal in favor of a decline would be a test of the resistance line on the relative strength indicator. The downward price action would be cancelled by a strong rally and a breakout of the 1.4225 area. This will indicate a breakout of a key resistance level and a continued rise with a target above 1.4465.
