|Performance after Monday|
|Week to-date||-0.66%||-91.8 Pips|
Upcoming key events (London Time)
Tue 12:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth)
Wed 12:30 PM USD Retail Sales (1-mth)
Wed 12:30 PM USD Retail Control Group
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.66% to 1.37330. Price is above 9-Day EMA while Stochastic is falling but in overbought zone.
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 1.3654 (S1) with break below could see further selling pressure towards 1.3575 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.38600 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.36780 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as the current price action remain uncertain due to trader indecisiveness.
Key levels to watch out:
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