The currency pair Canadian Dollar to US Dollar USD/CAD ends the trading week with a decline and has left 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 an increase and test the resistance level near the 1.4295 area. Then, a downward rebound and continued fall in quotes with a target below the 1.3725 level.
USD/CAD Weekly Forecast February 17 — 21, 2025
An additional signal in favor of a decline in the USD/CAD currency pair will be a test of the resistance 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 a fall in the USD/CAD currency pair quotes in the current trading week of February 17 — 21, 2025 will be a strong growth and a breakout of the 1.4705 area. This will indicate a breakout of resistance and continued growth to the area above 1.4985. A breakout of the support level and closing of the price below 1.4065 will confirm the decline in the pair.
USD/CAD Weekly Forecast February 17 — 21, 2025 suggests an attempt to develop a bullish correction and test the resistance area near 1.4295. Further, continuation of the fall with a target below 1.3725. An additional signal in favor of the decline will be a test of the trend line on the relative strength indicator. Cancellation of the decline development option will be strong growth and a breakout of the 1.4705 area. This will indicate a breakout of an important resistance level and continued growth with a target above 1.4985.
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