The USD/CAD currency pair is ending the trading week with gains as it forms a bearish “Wolfe Wave” reversal pattern. Moving averages indicate a bullish trend. Prices have broken upward through the area between the signal lines, signaling rising buying pressure and the potential for continued growth in the near term. Currently, we should expect an attempt to extend the rise and a test of the resistance level near 1.4265. This would be followed by a downward rebound and a continued decline in quotes, targeting levels below 1.3835.
USDCAD Weekly Forecast October 12 – 16, 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). A second signal would be a rebound from the upper boundary of the “Wolfe Wave” reversal pattern. The scenario predicting a decline in USD/CAD quotes during the week of October 12–16, 2026, would be invalidated by a strong rally and a breakout above the 1.4425 area. Such a move would indicate a resistance breakout and continued growth toward levels above 1.4675. Confirmation of the pair’s decline would come from a break of the support level and a close below 1.4205, signaling a breakout from the lower boundary of the bullish channel.
USDCAD Weekly Forecast October 12 – 16, 2026 anticipates an attempt to develop a correction and test the resistance area near the 1.4265 level. Next, the decline is expected to continue with a target below the 1.3835 level. A test of the resistance line on the Relative Strength Index (RSI) will serve as an additional signal favoring a decline. The bearish scenario would be invalidated by a strong rally and a breakout above the 1.4425 area; this would indicate a break of a key resistance level and a continued rise targeting levels above 1.4675.
