USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.05% | -7 Pips |  |
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| Week to-date | -0.05% | -7 Pips | |
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| June | 0.98% | 133 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth) Wed 01:30 PM USD CPI Inflation Rate (1-mth) Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Wed 07:00 PM USD Interest Rate Projections
Wed 08:30 PM CAD Bank of Canada’s Governor Tiff Macklem speech
What happened lately
No major activities.
Latest from X (Twitter)
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.05% to 1.37570. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.37441 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.37816 or trades above daily pivot 1.37629. Break above could target R1 at 1.37757. While to the downside, we are looking at 1.37441 (S1) and daily low of 1.37500 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.37500 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.38073 |
| R2 | 1.37945 |
| R1 | 1.37757 |
| Daily Pivot | 1.37629 |
| S1 | 1.37441 |
| S2 | 1.37313 |
| S3 | 1.37125 |
