USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.1% | 13.3 Pips |  |
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| Week to-date | 0.1% | 13.3 Pips | |
||
| May | -1.07% | -148 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)
Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
No major activities.
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What can we expect from USDCAD today?
USDCAD on Monday rose 0.1% to 1.36223. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35971 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36353 or trades above daily pivot 1.36162. Break above could target R1 at 1.36414. While to the downside, we are looking at 1.35971 (S1) and daily low of 1.35910 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.36353 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 | 1.36857 |
| R2 | 1.36605 |
| R1 | 1.36414 |
| Daily Pivot | 1.36162 |
| S1 | 1.35971 |
| S2 | 1.35719 |
| S3 | 1.35528 |
