USDCAD on Wednesday rose 0.56% to 1.37182. What we know.

USDCAD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.56%	77 Pips
Week to-date	0.4%	55.2 Pips
May	-0.38%	-52.4 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Fri 01:30 PM CAD GDP (12-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.1% compared to previous figure 1.2% in February

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What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.56% to 1.37182. 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 1.3746 with break above could target R2 at 1.37738 or figure level area. While towards the downside, we are looking at daily low of 1.36410 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37213 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: