The currency pair Canadian Dollar to US Dollar USD/CAD ends the trading week with a correction within the formation of the Triangle model. The moving averages indicate the presence of an upward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the currency pair and potential continuation of 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 1.4295 area. Then, an upward rebound and continued growth of quotes with a target above the 1.4765 level.
USD/CAD Weekly Forecast March 24 — 28, 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 Triangle model. The cancellation of the option of increasing quotes for the USD/CAD currency pair in the current trading week of March 24 — 28, 2025 will be a fall and a breakout of the 1.4085 area. This will indicate a breakout of support and a continuation of the fall to the area below 1.3775. The growth of the pair will be confirmed by a breakout of the resistance level and closing of the price above 1.4595, which will indicate a breakout of the upper border of the Triangle pattern and the beginning of the implementation of the pattern with targets at the top.
USD/CAD Weekly Forecast March 24 — 28, 2025 suggests an attempt to develop a bearish correction and test the support area near 1.4295. Further, continuation of growth with a target above 1.4765. 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 1.4085 area. This will indicate a breakout of an important support level and a continuation of the fall with a target below 1.3775.
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