USDCAD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.37% | 50.7 Pips |  |
||
| Week to-date | 0.58% | 79.6 Pips |  |
||
| May | -0.59% | -81.9 Pips |  |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇨🇦 Canada CPI Inflation Rate (1-mth) in April dropped to 0.5% compared to previous figure 0.6% in March Source: Statistics Canada
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What can we expect from USDCAD today?
USDCAD on Wednesday rose 0.37% to 1.36882. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.37175 with break above could target R2 at 1.37469 or figure level area. While towards the downside, we are looking at daily low of 1.36200 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36981 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 | 1.37956 |
| R2 | 1.37469 |
| R1 | 1.37175 |
| Daily Pivot | 1.36688 |
| S1 | 1.36394 |
| S2 | 1.35907 |
| S3 | 1.35613 |
