The currency pair Canadian Dollar to US Dollar USD/CAD ends the trading week with a strong decline within the bullish channel. The moving averages indicate an upward trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the currency pair and potential continued growth in the near future. At the moment, we should expect an attempt to develop a bearish correction and test the support level near the 1.4045 area. Then, an upward rebound and continued growth of quotes with a target above the 1.4435 level.
USD/CAD Weekly Forecast April 7 — 11, 2025
An additional signal in favor of the growth of the USD/CAD currency pair will be a test of the support line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option of increasing quotes for the USD/CAD currency pair in the current trading week of April 7 — 11, 2025 will be a fall and a breakout of the 1.3825 area. This will indicate a breakout of support and a continuation of the fall to the area below 1.3605. The growth of the pair will be confirmed by a breakout of the resistance level and the price closing above 1.4345, which will indicate a breakout of the upper border of the downward correction channel.
USD/CAD Weekly Forecast April 7 — 11, 2025 suggests an attempt to develop a bearish correction and test the support area near 1.4045. Further, continuation of growth with a target above 1.4435. An additional signal in favor of growth will be a test of the trend line on the relative strength indicator. The cancellation of the growth option will be a fall and a breakout of the 1.3825 area. This will indicate a breakout of an important support level and a continuation of the fall with a target below 1.3605.
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