USD/CAD Forecast | Currency Rate Prediction (2020)

The US Dollar to Canadian Dollar (USD/CAD) exchange rate is a Forex major pair and one of the world’s most traded currency pairings.

In this article we make a US-Dollar / Canadian Dollar price forecast and long-term prediction. We would like to give an assessment of the future price development of USD/CAD. We also look at the long term charts for USD/CAD, which are the yearly, quarterly or monthly chart. The basis of our analysis is the Price Action and Technical Chart Analysis.

The charts used are from TradingView and the prices are from FXCM.

USD/CAD Forecast: Daily Chart

Last update: September 26, 2020

In the daily chart we see USD/CAD Forex pair trading in a defined uptrend after having found key support around the 2009 high. USD/CASD is now moving above the 20 days and 50 days SMA and approaching the 200 days moving average (yellow line).

USDCAD outlook daily chart
USD/CAD forecast: next target the 200 days SMA (yellow line) (Chart: TradingView)

Resistance: 1.3660 | 1.3715 | 1.3800
Support: 1.3064 | 1.2932

USD/CAD Forecast: The daily chart of USD/CAD looks positive. Next price target could be July high and then the 200 days SMA.

USD/CAD price prediction: Weekly chart

Last update: September 28, 2020

USD/CAD on the weekly chart has found support around the level of the 2009 high at 1.3064. In the last four weeks we have seen a strong recovery with now approaching the July high.

USDCAD forecast using weekly chart
USD/CAD forecast: Approaching the July high (Chart: TradingView)

Resistance: 1.3451 | 1.3660 | 1.3715 | 1.3800
Support: 1.3064 | 1.2932

USDCAD prediction: The weekly chart of USD/CAD looks positive. The strong support area around 1.3000 could be the base for a substantial price increase. Next price target is the 2019 high at 1.3662.

USD/CAD price prediction: Monthly chart

Last update: September 28, 2020

USD/CAD on the monthly chart has found support around the level of the 2009 high at 1.3064.

USD/CAD prediction using monthly chart
USD/CAD prediction: Monthly chart shows support around 1.3000 (Chart: TradingView)

Resistance: 1.3451 | 1.3662 | 1.3715 | 1.3800
Support: 1.3064 | 1.2932

USDCAD prediction: The monthly chart of USD/CAD looks slightly positive. The strong support area around 1.3000 could be the base for a substantial price increase. If prices fall below 1.2900, the long term prediction turns negative and more depreciation is possible.

USD/CAD Forecast: Quarterly chart

Last update: August 22, 2020

If we look at the quarterly chart of the USD/CAD currency pair, we see a long-term uptrend that originated at the 2007 low at 0.9057. The last swing high of the uptrend is 1.4689 at the high of 2016.

The following years are showing a trading range with sideways price action. USD/CAD is moving inside the price range of the year 2017.

USD/CAD on the quarterly chart is still in an uptrend. The second quarter of 2020 has left an inside bar.

USDCAD outlook quarterly chart
USD/CAD forecast: Quarterly chart shows major support around 1.3000 (Chart: TradingView)

Resistance: 1.3660 | 1.3715 | 1.3800
Support: 1.3064 | 1.2932

USD/CAD outlook: The quarterly chart of USD/CAD looks slightly positive. Next price target could be the 2009 high at 1.3662 . The strong support area around 1.3000 could be the base for a substantial price increase. If prices fall below 1.2900, the long term prediction turns negative and more depreciation is possible.

USD/CAD Forecast: Yearly chart

Last update: August 22, 2020

If we look at the yearly chart of the USD/CAD currency pair, we see a long-term uptrend that originated at the 2007 low at 0.9057. The last swing high of the uptrend is 1.4689 at the high of 2016. In the following four years USD/CAD is moving sideways in the price range of 2016.

USD/CAD long term prediction: Yearly chart shows major support around 1.3000 (Chart: TradingView)

Resistance: 1.3662 | 1.3715 | 1.3800
Support: 1.3064 | 1.2932

USD/CAD Forecast: The yearly chart of USD/CAD looks slightly positive. Next price target could be the 2009 high 1.3662. The strong support area around 1.3000 could be the base for a substantial price increase. If prices fall below 1.2900, the long term prediction turns negative and depreciation is possible.

What is the current price of USD/CAD ?

The current price of USD/CAD you can see here.

About USD/CAD

The Currency Pair USD/CAD is the shortened term for the US-Dollar against Canadian Dollar, or cross for the currencies of the United States (USD) and Canada (CAD). For example, if the pair is trading at 1.3300, it means it takes 1.3300 Canadian Dollar to buy 1 US-Dollar.

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.

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