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17.04.2025 10:59 AM
USD/CAD Forecast for April 17, 2025

USD/CAD On the daily chart, the Marlin oscillator indicates that the price is poised for a potential upward reversal. Below remains the target level of 1.3746 and the lower boundary of the price channel, which hypothetically could be tested around the 1.3668 level.

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However, throughout the chart's history, the price has approached this lower channel line six times without testing it directly, so it's not a reliable signal. A consolidation above the 1.3898 level could already serve as a sign of growth toward 1.4010. Further targets lie above: 1.4088 and 1.4150.

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On the four-hour chart, the current situation can be loosely described as a weak convergence — which is already a sign of a possible reversal. However, if the price falls below the April 14 low (1.3827), this convergence would take on a classical form. A consolidation above 1.4010 would also confirm a breakout above the MACD line. That would confirm a full-fledged reversal.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
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