USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.03% | 3.9 Pips |  |
||
| Week to-date | -0.12% | -17.1 Pips |  |
||
| June | 0.24% | 32.6 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April 🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau 🇺🇸 U.S. New York Empire State Manufacturing Index in June improved to -6 points compared to previous figure -15.6 points in May
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What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.03% to 1.37159. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.36944 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.37566 or trades above daily pivot 1.37255. Break above could target R1 at 1.3747. While to the downside, we are looking at 1.36944 (S1) and daily low of 1.37040 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.37566 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 | 1.37996 |
| R2 | 1.37781 |
| R1 | 1.3747 |
| Daily Pivot | 1.37255 |
| S1 | 1.36944 |
| S2 | 1.36729 |
| S3 | 1.36418 |
