USD/CAD Forecast | Long term prediction | Outlook (2021)

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 – Strength above the April high

Last update: September 19, 2021

In the daily chart we see USD/CAD Forex pair trading in an established downtrend. The the recent development was marked by an impressive recovery from support at the price mark of the low from 2017. Last candlesticks showing the attempt to break above 2019 low resistance, were rejected and could recapture the April high.

USDCAD forecast using daily chart, - with strength back above the april high
USD/CAD forecast: Prices back above the April high – 1.2769 Chart: TradingView)

Resistance: 1.2951 | 1.3064
Support: 1.2653 | 1.2365 | 1.2247

USD/CAD Forecast: The daily chart of USD/CAD could form a trend reversal. The recovery classifies the chart picture as neutral, and a possible price advance above the key resistance zone around 1.3000 would turn the chart picture into positive. The current low is located at 1.2007.

USD/CAD price prediction: Weekly chart with strong candlestick

Last update: September 19, 2021

USD/CAD on the weekly chart is moving in an established downtrend. The recent recovery showed a run-up against the 2019 low but was rejected. Prices are quoted at around 1.2769.

USDCAD forecast using weekly chart,- Strength back above the April high
USD/CAD forecast: Established downtrend with rejected breakout attempt – 1.2769 (Chart: TradingView)

Resistance: 1.2951 | 1.3064
Support: 1.2653 | 1.2365 | 1.2247

USDCAD prediction: The weekly chart of USD/CAD looks neutral with an upcoming positive outlook. The breakout attempt above the 2019 low could cause more upside potential, but only a price advance above key resistance around 1.3064 could turn the chart picture into positive.

USD/CAD price prediction: Monthly chart

Last update: September 19, 2021

USD/CAD on the monthly chart was rejected at the 2019 low and is trading below the April high. We see a downward move from 2016 high level since March 2020 with a strong candlestick in June. The month of july tried to break above the resistance at the April high, but was rejected. August also was challenging this levels after a run-up against resistance at around 1,3000. September moved back above the April high.

USD/CAD prediction using monthly chart since 2008 - Price quoted at around 1.2770
USD/CAD prediction: Monthly chart could not break the near resistance yet (Chart: TradingView)

Resistance: 1.2951 | 1.3064
Support: 1.2653 | 1.2247 | 1.2061

USDCAD prediction: The monthly chart of USD/CAD looks negative to neutral. Prices could recover from support around the 2017 low. A further price advance above key resistance around 1.3064 could turn the chart picture to positive.

USD/CAD Forecast: Quarterly chart

Last update: September 19, 2021

On the quarterly chart of USD/CAD we can see a big trading range for the last six years. The major forex pair is moving sideways between 1.2000 and 1.4700 and possibly heading for resistance of the 2019 low again.

USDCAD outlook quarterly chart - price at around 1.2770
USD/CAD forecast: Support at the low from 2017 is confirmed for the time being (Chart: TradingView)

Resistance: 1.2951 | 1.3064
Support: 1.2247 | 1.2061 | 1,1613

USD/CAD outlook: The quarterly chart of USD/CAD looks negative to neutral. We expect a continuation of the big trading range. Only a price advance above key resistance around 1.3064 could turn the chart picture to positive.

USD/CAD Outlook: Yearly chart (Historical chart)

Last update: September 19, 2021

On the yearly chart of USD/CAD we can see a big trading range for the last six years. The major forex pair is moving sideways between 1.2000 and 1.4700.

USDCAD outlook by historical chart - price at around 1.2770
USD/CAD long term prediction: Heading for 2019 low (Chart: TradingView)

Resistance: 1.2951 | 1.3064
Support: 1.2247 | 1.2061 | 1,1613

USD/CAD Forecast: The yearly chart of USD/CAD looks negative to neutral. We expect a continuation of the big trading range.

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.

2 thoughts on “USD/CAD Forecast | Long term prediction | Outlook (2021)”

  1. I have made what is obviously a huge mistake. I came into some money last fall and I wanted to invest in US equity. So I exchanged my Canadian currency to US currency at 1.33
    Now I can see the consequences of my stupid actions.
    The only possible salvation is in the fact that I have 10 years until retirement.
    I am wondering what are the chances that at any time over the next 10 years that the exchange rate will go back to 1.33 or even better.

    Reply

Leave a Comment