USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.23% | -30 Pips |  |
||
| Week to-date | -0.23% | -30 Pips | |
||
| June | -3.09% | -419 Pips | |
||
Upcoming key events (London Time)
Tue 01:30 PM USD Durable Goods Orders Tue 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
Tue 01:30 PM CAD Bank of Canada Core Inflation CPI (12-mth) Wed 09:30 PM USD Bank Stress Test Info
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.23% to 1.31510. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.31317 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.31768 or trades above daily pivot 1.31543. Break above could target R1 at 1.31735. While to the downside, we are looking at 1.31317 (S1) and daily low of 1.31350 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.31350 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 | 1.32153 |
| R2 | 1.31961 |
| R1 | 1.31735 |
| Daily Pivot | 1.31543 |
| S1 | 1.31317 |
| S2 | 1.31125 |
| S3 | 1.30899 |
You might be interested in:
Monthly Survey of Manufacturing: Flash estimate, May 2023. Statistics Canada
Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.
