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 can regain the 1.2600

Last update: November 21, 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 slipped through possible support around the April high. Also, the low from September at 1.2493 was undercut.

Over the course of the past week, the price has been able to recover above the 1.2600 price mark and stays within reach for the April high.

USDCAD forecast using daily chart, - moving above 1.2600 again
USD/CAD forecast: Heading for the April high – 1.2636 Chart: TradingView)

Resistance:  1.2653 | 1.295 | 1.3064
Support:  1.2365 | 1.2247 | 1.2061

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

The recovery from the March low at 1.2365 might cause more upside potential as support could confirm now.

USD/CAD price prediction: Weekly chart heading for April high

Last update: November 21, 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 quoted at 1.2636 are now challenging the resistance at the April high again.

USDCAD forecast using weekly chart, - moving above 1.2600 again
USD/CAD forecast: Established downtrend with next possible recovery attempt – 1.2636 (Chart: TradingView)

Resistance: 1.2653 | 1.295 | 1.3064
Support: 1.2365 | 1.2247 | 1.2061

USDCAD prediction: The weekly chart of USD/CAD looks neutral with a fading positive outlook. The rejected breakout attempt above the 2019 low could cause sideways action, and only a price advance above key resistance around 1.3064 would turn the chart picture into positive.

USD/CAD price prediction: Monthly chart

Last update: November 21, 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 and September were also challenging this levels after a run-up against resistance at around 1,3000. October closed weak below the April high, the current month of November can regain the 1.2600 level.

USD/CAD prediction using monthly chart since 2008 - Price quoted at around 1.2636
USD/CAD prediction: Monthly chart could not break the near resistance yet (Chart: TradingView)

Resistance: 1.2653 | 1.2951 | 1.3064
Support: 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: November 21, 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 1.2636
USD/CAD long term forecast: Quarterly candlesticks between 2017 and 2019 low (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: November 21, 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 1.2636
USD/CAD long term prediction: Prices between 2017 and 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.

3 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
    • As long as you followed your plan and were invested in US equities for this last year then I’m sure you’ve more than made up for the currency loss.

      Reply

Leave a Reply to Testo Man Cancel reply