USDCAD on Monday dropped -0.27% to 1.34104. What we know.

USDCAD on Monday dropped -0.27% to 1.34104. What we know.

USDCAD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday -0.27% -36.6 Pips
Week to-date -0.26% -35.5 Pips
January 1.25% 165.5 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

No major activities.

Latest from X (Twitter)

What can we expect from USDCAD today?

USDCAD on Monday dropped -0.27% to 1.34104. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at S1 1.33879 with break below could see further selling pressure towards S2 at 1.33654. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.34651 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.34040 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 1.35101
R2 1.34876
R1 1.3449
Daily Pivot 1.34265
S1 1.33879
S2 1.33654
S3 1.33268

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