The USD/CAD currency pair is ending the trading week with gains as a “Head and Shoulders” reversal pattern takes shape. 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 near-term growth. For now, expect an attempt to extend the rally and a test of the resistance level near 1.4245. This would likely be followed by a downward rebound and a resumption of the decline, targeting levels below 1.3465.
USDCAD Weekly Forecast September 28 – October 3, 2026
A test of the resistance line on the Relative Strength Index (RSI) would serve as an additional signal favoring a decline in the USD/CAD pair. A second signal would be a rebound from the upper boundary of the “Head and Shoulders” reversal pattern. The bearish scenario for the week of September 28 – October 3, 2026, would be invalidated by a strong rally and a breakout above the 1.4305 level; such a move would indicate a resistance breakout and continued growth toward levels above 1.4655. Confirmation of the decline would come from a break of the support level and a close below 1.3725, signaling a breach of the “Head and Shoulders” pattern’s lower boundary and the start of the pattern’s downward targets.
USDCAD Weekly Forecast September 28 – October 3, 2026 suggests an attempt to develop a correction and test the resistance area near the 1.4245 level. This would be followed by a continued decline targeting levels below 1.3465. An additional signal favoring a decline is a test of the resistance line on the Relative Strength Index (RSI). The bearish scenario would be invalidated by a strong rise and a breakout above the 1.4305 area; this would indicate a breach of a key resistance level and a continued rise targeting levels above 1.4655.
