The Canadian Dollar to US Dollar (USD/CAD) currency pair is ending the trading week on a downward trend but remains within an ascending channel. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, indicating growing buying pressure on the currency pair and potential continued growth in the near future. Currently, we expect an attempt to extend the decline and test the support level near 1.3825. This should be followed by an upward rebound and continued growth in quotes with a target above 1.4205.
USDCAD Weekly Forecast August 31 – September 4, 2026
An additional signal in favor of an uptrend for the USD/CAD currency pair will be a test of the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. A decline and a breakout of the 1.3665 area will cancel out the upside scenario for the USD/CAD currency pair during the current trading week of August 31 – September 4, 2026. This will indicate a breakout of support and a continuation of the decline below 1.3475. A breakout of the resistance level and a price close below 1.4005 will confirm the pair’s growth, indicating a breakout of the upper boundary of the downward correction channel.
USDCAD Weekly Forecast August 31 – September 4, 2026 suggests an attempt to develop a correction and test the support area near 1.3825. Further growth is expected with a target above 1.4205. An additional signal in favor of an upside scenario will be a test of the support line on the relative strength indicator. A decline and a breakout of the 1.3665 area will cancel out the upside scenario. This will indicate a breakout of an important support level and a continuation of the decline with a target below 1.3475.
