USDCAD on Wednesday rose 0.19% to 1.37920. What we know.

USDCAD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.19%	25.9 Pips
Week to-date	0.97%	133 Pips
November	-0.56%	-78 Pips

Upcoming key events (London Time)

Thu 07:00 PM USD Federal Reserve Chair Jerome Powell speech
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

No major activities.

What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.19% to 1.37920. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.38209 with break above could target R2 at 1.38497 or figure level area. While towards the downside, we are looking at daily low of 1.37500 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.38143 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:

You might be interested in:

Powell, Opening Remarks. Federal Reserve
Building permits, September 2023. Statistics Canada
U.S. International Trade in Goods and Services, September 2023. Bureau of Economic Analysis
Canadian international trade in services, September 2023. Statistics Canada
U.S. International Trade in Goods and Services. Census Bureau