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USDCAD on Monday dropped -0.05% to 1.37570. Pair in consolidation. What we know.

USDCAD on Monday dropped -0.05% to 1.37570. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday -0.05% -7 Pips
Week to-date -0.05% -7 Pips
June 0.98% 133 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD CPI Inflation Rate (12-mth)
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What happened lately

No major activities.

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What can we expect from USDCAD today?

USDCAD on Monday dropped -0.05% to 1.37570. 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 1.37441 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.37816 or trades above daily pivot 1.37629. Break above could target R1 at 1.37757. While to the downside, we are looking at 1.37441 (S1) and daily low of 1.37500 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.37500 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 1.38073
R2 1.37945
R1 1.37757
Daily Pivot 1.37629
S1 1.37441
S2 1.37313
S3 1.37125

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