USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.11% | 15.5 Pips |  |
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| Week to-date | 0.07% | 10 Pips | |
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| December | 0.2% | 27 Pips | |
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Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Thu 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇺🇸 U.S. CPI Inflation Rate (12-mth) in November dropped to 3.1% compared to previous figure 3.2% in October Source: Bureau of Labor Statistics
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What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.11% to 1.35880. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35486 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36183 or trades above daily pivot 1.35834. Break above could target R1 at 1.36229. While to the downside, we are looking at 1.35486 (S1) and daily low of 1.35440 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.36183 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 | 1.36972 |
| R2 | 1.36577 |
| R1 | 1.36229 |
| Daily Pivot | 1.35834 |
| S1 | 1.35486 |
| S2 | 1.35091 |
| S3 | 1.34743 |
