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USDCAD on Monday rose 0.16% to 1.34426. Pair in consolidation. What we know.

USDCAD on Monday rose 0.16% to 1.34426. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday 0.16% 21.6 Pips
Week to-date 0.16% 21.6 Pips
June -0.94% -127.4 Pips

Upcoming key events (London Time)

Wed 03:00 PM CAD Bank of Canada Policy Interest Rate
Wed 03:00 PM CAD Bank of Canada Rate Statement

What happened lately

No major activities.


USDCAD 4-hour Chart by TradingView

What can we expect from USDCAD today?

USDCAD on Monday rose 0.16% to 1.34426. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.34185 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.34616 or trades above daily pivot 1.34401. Break above could target R1 at 1.34641. While to the downside, we are looking at 1.34185 (S1) and daily low of 1.34160 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.34616 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 1.35097
R2 1.34857
R1 1.34641
Daily Pivot 1.34401
S1 1.34185
S2 1.33945
S3 1.33729

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