USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.16% | 22.4 Pips |  |
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| Week to-date | 0.11% | 15.4 Pips |  |
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| April | 1.84% | 248.9 Pips | |
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Upcoming key events (London Time)
Tue 01:30 PM CAD Bank of Canada Core Inflation CPI (12-mth) Tue 01:30 PM CAD CPI Inflation Rate (12-mth) Tue 06:15 PM CAD Bank of Canada’s Governor Tiff Macklem speech 
Tue 06:15 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. New York Empire State Manufacturing Index in April improved to -14.3 points compared to previous figure -20.9 points in March 🇺🇸 U.S. Monthly Retail Trade (1-mth) in March dropped to 0.7% compared to previous figure 0.9, revised from 0.6% in February Source: Census Bureau
Latest from X (Twitter)
What can we expect from USDCAD today?
USDCAD on Monday rose 0.16% to 1.37864. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.38131 with break above could target R2 at 1.38399 or figure level area. While towards the downside, we are looking at daily low of 1.37200 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37933 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 | 1.38864 |
| R2 | 1.38399 |
| R1 | 1.38131 |
| Daily Pivot | 1.37666 |
| S1 | 1.37398 |
| S2 | 1.36933 |
| S3 | 1.36665 |
