USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.09% | 11.3 Pips |  |
||
| Week to-date | 0.09% | 11.3 Pips | |
||
| June | -2.66% | -360.7 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM CAD Retail Trade Turnover (1-mth)
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday rose 0.09% to 1.32093. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.31801 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.32284 or trades above daily pivot 1.32042. Break above could target R1 at 1.32335. While to the downside, we are looking at 1.31801 (S1) and daily low of 1.31750 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.32284 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 | 1.32869 |
| R2 | 1.32576 |
| R1 | 1.32335 |
| Daily Pivot | 1.32042 |
| S1 | 1.31801 |
| S2 | 1.31508 |
| S3 | 1.31267 |
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