USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.01% | -1.7 Pips |  |
||
| Week to-date | 0% | 0.3 Pips | |
||
| May | -0.36% | -48.7 Pips | |
||
Upcoming key events (London Time)
Wed 07:00 PM USD FOMC Meeting Minutes Thu 01:30 PM USD GDP Annualized
What happened lately
🇺🇸 New Residential Sales (1-mth) in April exceed forecast and rose to 0.683M compared to previous figure 0.656, revised from 0.683M in March Census Bureau
What can we expect from USDCAD today?
USDCAD on Tuesday dropped -0.01% to 1.34983. 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 1.347 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35486 or trades above daily pivot 1.35093. Break above could target R1 at 1.35376. While to the downside, we are looking at 1.347 (S1) and daily low of 1.34810 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.34810 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 | 1.36052 |
| R2 | 1.35769 |
| R1 | 1.35376 |
| Daily Pivot | 1.35093 |
| S1 | 1.347 |
| S2 | 1.34417 |
| S3 | 1.34024 |
You might be interested in:
Gross Domestic Product for the U.S. Virgin Islands, 2021. Bureau of Economic Analysis
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