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USDCAD on Monday rose 0.05% to 1.32477. Pair in consolidation. What we know.

USDCAD on Monday rose 0.05% to 1.32477. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday 0.05% 6.1 Pips
Week to-date -0.04% -5.8 Pips
July -0.03% -4.1 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

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USDCAD 4-hour Chart by TradingView

What can we expect from USDCAD today?

USDCAD on Monday rose 0.05% to 1.32477. 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 1.32247 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.32734 or trades above daily pivot 1.3249. Break above could target R1 at 1.32721. While to the downside, we are looking at 1.32247 (S1) and daily low of 1.32260 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.32734 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

Key levels to watch out:

R3 1.33195
R2 1.32964
R1 1.32721
Daily Pivot 1.3249
S1 1.32247
S2 1.32016
S3 1.31773

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