USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.13% | 17.3 Pips |  |
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| Week to-date | 0.27% | 36.9 Pips |  |
||
| March | 0.09% | 12.5 Pips | |
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Upcoming key events (London Time)
Wed 02:45 PM CAD Bank of Canada Policy Interest Rate
Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies Wed 03:30 PM CAD Bank of Canada Press Conference
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in January dropped to -3.6% compared to previous figure -0.3, revised from 0.2% in December Source: Census Bureau
Latest from X (Twitter)
What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.13% to 1.35899. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.36129 with break above could target R2 at 1.3636 or figure level area. While towards the downside, we are looking at daily low of 1.35510 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36050 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.36669 |
| R2 | 1.3636 |
| R1 | 1.36129 |
| Daily Pivot | 1.3582 |
| S1 | 1.35589 |
| S2 | 1.3528 |
| S3 | 1.35049 |
