The currency pair Canadian Dollar to US Dollar USD/CAD ends the trading week with growth within the bullish channel. The moving averages indicate an upward trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the currency pair and a potential continuation of the fall in the near future. At the moment, we should expect an attempt to develop a bearish correction and test the support level near the 1.3815 area. Then, an upward rebound and continued growth of quotes with a target above the 1.4425 level.
USD/CAD Weekly Forecast May 12 — 16, 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 May 12 — 16, 2025 will be a fall and a breakout of the 1.3565 area. This will indicate a breakout of support and a continuation of the fall to the area below 1.3305. The growth of the pair will be confirmed by a breakout of the resistance level and the price closing above 1.4215, which will indicate a breakout of the upper border of the descending channel.
USD/CAD Weekly Forecast May 12 — 16, 2025 suggests an attempt to develop a bearish correction and test the support area near 1.3815. Further, continuation of growth with a target above 1.4425. 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 1.3565 area. This will indicate a breakout of an important support level and a continuation of the fall with a target below 1.3305.
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