USD/CAD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- USD/CAD breaks out of descending trendline, reclaiming bullish structure

- RSI confirms momentum shift with continued upside pressure

- As long as $1.4370 holds, bulls remain in control targeting $1.4450 and higher

USD/CAD has broken decisively above a multi-week descending trendline, signaling a potential bullish reversal as price reclaims ground above the 50-period simple moving average ($1.43219).

The pair’s upward momentum accelerated following the breakout from the $1.4370 resistance, which now flips to near-term support. Price is now hovering just below the $1.4450 zone, a level last tested mid-March.

The momentum shift is confirmed by the Relative Strength Index (RSI), currently reading 65.88 and trending higher—suggesting sustained buying interest without yet entering overbought territory.

The bullish crossover of the RSI and its moving average line reinforces this positive momentum. The 50-SMA, once resistance, is now providing dynamic support and aligning with the former descending trendline, offering technical confluence.

If price sustains above the $1.4370 breakout level, upside potential remains toward the $1.4450–$1.4526 resistance corridor. Conversely, a drop back below $1.4315 could invalidate the breakout and expose the pair to renewed bearish pressure toward $1.4237 and $1.4160.

Overall, technicals support a bullish near-term outlook, with momentum, structure, and breakout signals all aligned in favor of further gains—provided price holds above the $1.4370 pivot.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.43714

Take Profit – 1.44507

Stop Loss – 1.43050

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$793/ -$664

Profit & Loss Per Mini Lot = +$79/ -$66