USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.03% | 4.6 Pips |  |
||
| Week to-date | -0.3% | -41.1 Pips |  |
||
| June | -0.17% | -23.1 Pips | |
||
Upcoming key events (London Time)
Wed 09:30 PM USD Bank Stress Test Results Thu 01:30 PM USD GDP Annualized
What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in April rose to 0.2% compared to previous figure 0.1% in March 
🇨🇦 Canada BoC CPI Inflation Rate Core (1-mth) in May rose to 0.6% compared to previous figure 0.2% in April Source: Bank of Canada
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What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.03% to 1.36602. Price is below 9-Day EMA while Stochastic is rising.
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 1.36877 with break above could target R2 at 1.37152 or figure level area. While towards the downside, we are looking at daily low of 1.36185 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36806 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 | 1.37498 |
| R2 | 1.37152 |
| R1 | 1.36877 |
| Daily Pivot | 1.36531 |
| S1 | 1.36256 |
| S2 | 1.3591 |
| S3 | 1.35635 |
