USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.35% | 48.1 Pips |  |
||
| Week to-date | 0.36% | 49 Pips |  |
||
| June | 0.36% | 49.1 Pips | |
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Upcoming key events (London Time)
Wed 02:45 PM CAD Bank of Canada Policy Interest Rate
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in April unchanged at 0.7% compared to previous report in March. Source: Census Bureau 🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in April dropped to 8.059M compared to previous figure 8.355, revised from 8.488M in March Source: Bureau of Labor Statistics
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What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.35% to 1.36750. 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 1.37107 with break above could target R2 at 1.37465 or figure level area. While towards the downside, we are looking at daily low of 1.36160 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36991 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 | 1.37938 |
| R2 | 1.37465 |
| R1 | 1.37107 |
| Daily Pivot | 1.36634 |
| S1 | 1.36276 |
| S2 | 1.35803 |
| S3 | 1.35445 |
