Select Language

USD/CAD Price Forecast: Falls toward 1.4250 after breaking below a crucial support zone

Breaking news

USD/CAD Price Forecast: Falls toward 1.4250 after breaking below a crucial support zone

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.03.18 17:25
USD/CAD Price Forecast: Falls toward 1.4250 after breaking below a crucial support zone

update 2025.03.18 17:25

  • USD/CAD may navigate near the three-month low of 1.4151. 
  • A break below the ascending channel pattern suggests a shift to bearish sentiment. 
  • Immediate resistance stands at the psychological level of 1.4300, followed by the 50-day EMA at 1.4323.

USD/CAD continues its losing streak for the third successive session, trading near 1.4290 during European hours on Tuesday. Technical analysis on the daily chart indicates a breakdown below an ascending channel pattern, signaling a shift toward bearish sentiment.

The 14-day Relative Strength Index (RSI) remains below 50, confirming the bearish outlook prevails. Additionally, the USD/CAD pair is trading below the nine-day Exponential Moving Average (EMA), suggesting weak short-term price momentum.

A break below the ascending channel has weakened the market sentiment and put downward pressure on the USD/CAD pair to navigate the area around the three-month low of 1.4151, last seen on February 14.

On the upside, immediate resistance is at the psychological level of 1.4300, followed by the 50-day EMA at 1.4322 and the nine-day EMA at 1.4353. A break above this resistance zone could strengthen short-term price momentum, potentially driving the USD/CAD pair toward the monthly high of 1.4543, recorded on March 4.

Further resistance is seen at the upper boundary of the ascending channel at 1.4700. A breakout above this level could reinforce the bullish bias and pave the way for a test of 1.4793, the highest level since March 2003, reached on February 3.

USD/CAD: Daily Chart

Canadian Dollar PRICE Today

The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the Japanese Yen.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   -0.26% -0.07% 0.45% -0.06% -0.05% -0.14% -0.12%
EUR 0.26%   0.17% 0.72% 0.19% 0.20% 0.12% 0.13%
GBP 0.07% -0.17%   0.53% 0.03% 0.03% -0.05% -0.04%
JPY -0.45% -0.72% -0.53%   -0.52% -0.49% -0.61% -0.58%
CAD 0.06% -0.19% -0.03% 0.52%   0.02% -0.07% -0.07%
AUD 0.05% -0.20% -0.03% 0.49% -0.02%   -0.09% -0.08%
NZD 0.14% -0.12% 0.05% 0.61% 0.07% 0.09%   0.01%
CHF 0.12% -0.13% 0.04% 0.58% 0.07% 0.08% -0.01%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick 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 (base)/USD (quote).

 


Date

Created

 : 2025.03.18

Update

Last updated

 : 2025.03.18

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

US Dollar drops to a near five-month low on geopolitical turmoil

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, dips lower again and trades pressured around 103.25 at the time of writing on Tuesday, near a five-month low at levels not seen since October.
New
update2025.03.18 20:43

NZD/USD Price Forecast: Trades firmly near three-month high of 0.5820

The NZD/USD pair holds significant Monday's gains near 0.5820 in European trading hours on Tuesday.
New
update2025.03.18 20:25

UK news may help EUR/GBP hold below the March high around 0.8495 - Rabobank

Today is expected to mark an extraordinary day for Germany.
New
update2025.03.18 20:08

CHF: Limited space for SNB easing - Danske Bank

The big event for CHF this week is the SNB meeting on Thursday, Danske Bank's FX analyst Jens Nærvig Pedersen reports.
New
update2025.03.18 19:59

USD/CNH: Expected to trade between 7.2200 and 7.2430 - UOB Group

US Dollar (USD) is expected to trade between 7.2200 and 7.2430 vs Chinese Yuan (CNH).
New
update2025.03.18 19:55

USD/JPY to stay bearish on a strategic horizon - Danske Bank

Amid risk-on sentiment yesterday USD/JPY traded above 149 yesterday, Danske Bank's FX analyst Jens Nærvig Pedersen reports.
New
update2025.03.18 19:51

ECB's Rehn: Can either cut or pause in April, depending on data

European Central Bank (ECB) policymaker Olli Rehn said on Tuesday that the central bank "can either cut or pause in April, depending on data." Additional quotes The effect of increased defence spending would only likely be over the medium term.
New
update2025.03.18 19:07

Silver Price Forecast: XAG/USD refreshes four-month high around $34 ahead of Fed's policy decision

Silver price (XAG/USD) posts a fresh four-month high near $34.10 in European trading hours on Tuesday.
New
update2025.03.18 19:04

German ZEW Economic Sentiment Index leaps to 51.6 in March vs. 48.1 expected

The headline German ZEW Economic Sentiment Index jumped to 51.6 in March from 26 in February, beating the market forecast of 48.1 by a wide margin.
New
update2025.03.18 19:02

Gold prints new all-time high on Israeli strikes across Gaza, ahead of Trump-Putin phone call

Gold's price (XAU/USD) pops higher again and reaches a fresh all-time high currently at $3,028 on Tuesday.
New
update2025.03.18 18:54

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel