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: July 21, 2020

USD/CAD forecast daily chart showing downtrend
USD/CAD forecast: next target is June low?

Resistance: 1.3660 | 1.3715 | 1.3800
Support: 1.3380 |1.3315

In the daily chart we see USD/CAD Forex pair in a defined downtrend. 200 days moving average (yellow line) has been crossed.

Forecast: The daily chart of USD/CAD looks negative. Next price target could be the June low at 1.3315 . A uptrend line could provide minor support.

USD/CAD price prediction: Monthly chart

Last update: July 14, 2020

USD/CAD prediction using monthly chart
USD/CAD prediction: Monthly chart shows support around 1.3500

Resistance: 1.3660 | 1.3715 | 1.3800
Support: 1.3500 |1.3315

USD/CAD on the monthly chart seems to have finished a three month correction and has found support on the 20 months moving average (blue line).

Forecast: The monthly chart of USD/CAD looks slightly positive. Next price target could be the June high at 1.3800 and then possibly 1.4000 and higher. The strong support area around 1.3500 could be the base for a substantial price increase.

USD/CAD Forecast: Quarterly chart

Last update: July 14, 2020

USDCAD price prediction using quarterly chart
USD/CAD forecast: Quarterly chart shows major support around 1.3500

Resistance: 1.3660 | 1.3715 | 1.3800
Support: 1.3315 |1.2950

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.

Forecast: The quarterly chart of USD/CAD looks slightly positive. Next price target could be the June high at 1.3800 and then possibly 1.4000 and higher. The strong support area around 1.3500 could be the base for a substantial price increase.

USD/CAD price forecast and long-term prediction for 2020

The forex currency pair USD/CAD is in a stable sideways trend since 2016 on the the quarterly chart.

As long as USD/CAD remains above the 2019 low of 1.2951, the long-term forecast remains positive. Only a price decrease well below 1.2951 would turn the forecast to negative.

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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