The USD/CAD currency pair (Canadian Dollar vs. US Dollar) is ending the trading week on an upward note, forming a “Wedge” reversal pattern. Moving averages point to a bullish trend. Prices have broken upward through the area between the signal lines, indicating mounting pressure from buyers and the potential for further gains in the near term. For now, we should anticipate an attempt to extend the rally, with a test of the resistance level near 1.4285. This would likely be followed by a downward rebound and a decline in the pair’s value, targeting levels below 1.3675.
USDCAD Weekly Forecast November 16 – 20, 2026
An additional signal favoring a decline in the USD/CAD pair would be a test of the resistance line on the Relative Strength Index (RSI) indicator. A second signal would be a rebound from the upper boundary of the “Wedge” reversal pattern. The scenario calling for a decline in the USD/CAD pair during the week of November 16–20, 2026, would be invalidated by a strong rally that breaks through the 1.4565 level. Such a move would signify a breakout above resistance, likely leading to further gains toward the 1.4965 level. Confirmation of a decline would come from a break below the support level, with prices closing beneath 1.4005; this would indicate a breach of the lower boundary of the “Wedge” pattern, triggering the pattern’s downward targets.
USDCAD Weekly Forecast November 16 – 20, 2026 suggests an attempt at a correction, with a test of the resistance area near the 1.4285 level. Furthermore, a continued decline is expected, with a target below the 1.3675 level. A test of the resistance line on the Relative Strength Index (RSI) indicator would serve as an additional signal favoring a downward move. This bearish scenario would be invalidated by a strong rally and a breakout above the 1.4565 area; such a move would signify a breach of a key resistance level and point to further gains, with a target above 1.4965.
