USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.61% | -83.1 Pips |  |
||
| Week to-date | -0.61% | -83.1 Pips |  |
||
| May | -0.61% | -82 Pips | |
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Upcoming key events (London Time)
Tue 01:30 PM USD Retail Trade Turnover (1-mth) Tue 01:30 PM USD Retail Trade Control Group
Tue 01:30 PM CAD Bank of Canada Core Inflation CPI (12-mth)
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.61% to 1.34649. Price is below 9-Day EMA while Stochastic is rising.
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 1.34241 with break below could see further selling pressure towards S2 at 1.33833. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.35675 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.34550 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 | 1.36491 |
| R2 | 1.36083 |
| R1 | 1.35366 |
| Daily Pivot | 1.34958 |
| S1 | 1.34241 |
| S2 | 1.33833 |
| S3 | 1.33116 |
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