The USD/CAD pair is rising during the North American session, up 0.27% on Friday and over 1.34% on the week, with the pair remaining bullish and poised to test the higher prices seen last year. At the time of writing, the pair is trading at 1.4175, having rebounded from intraday lows at 1.4131.
USD/CAD Price Forecast: Technical Outlook
The price action is showing a clear uptrend, with USD/CAD poised to test the 1.4200 level in the low term. The momentum is also extremely bullish, as illustrated by the Relative Strength (RS) indicator, which is above the overbought level of 70 and near the high of 86.45, indicating that the pair is subject to a pullback.
To maintain bullish continuation, USD/CAD needs to break through the 1.4200 level. Violation of the latter will cause the rate to reach 1.4273 on April 9, 2025, and then on April 1, 2025, the rate will reach 1.4415.
On the other hand, if USD/CAD falls below 1.4150, sellers may test the psychological line of 1.4100. Below this level is the June 11 intraday support high at 1.4024, followed by the June 15 intraday low at 1.3994. In case of further weakening, the next stop will be the June 10 low at 1.3899.
USD/CAD price chart – daily
Canadian dollar price this week
The table below shows the percentage change in the Canadian Dollar (CAD) against the major currencies traded this week. The Canadian dollar was strongest against the New Zealand dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.86% | 1.33% | 0.69% | 1.30% | 0.45% | 1.52% | 1.29% | |
| EUR | -0.86% | 0.43% | -0.17% | 0.43% | -0.43% | 0.65% | 0.43% | |
| GBP | -1.33% | -0.43% | -0.77% | 0.00% | -0.87% | 0.22% | -0.01% | |
| JPY | -0.69% | 0.17% | 0.77% | 0.59% | -0.25% | 0.85% | 0.59% | |
| BOOR | -1.30% | -0.43% | -0.01% | -0.59% | -0.87% | 0.26% | 0.00% | |
| AUD | -0.45% | 0.43% | 0.87% | 0.25% | 0.87% | 1.09% | 0.88% | |
| NZD | -1.52% | -0.65% | -0.22% | -0.85% | -0.26% | -1.09% | -0.22% | |
| CHF | -1.29% | -0.43% | 0.01% | -0.59% | -0.01% | -0.88% | 0.22% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select the Canadian dollar from the left column and move along the horizontal line to the US dollar, the percentage change displayed in the box will represent CAD (basis)/USD (quote).
