USDCAD on Monday rose 0.24% to 1.33925. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.24%	31.5 Pips
Week to-date	0.2%	27 Pips
April	-0.91%	-123 Pips

Upcoming key events (London Time)

Tue 01:30 PM CAD Bank of Canada Core Inflation CPI (12-mth)
Tue 04:30 PM CAD Bank of Canada’s Governor Tiff Macklem speech

What happened lately

No major activities.

What can we expect from USDCAD today?

USDCAD on Monday rose 0.24% to 1.33925. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.3347 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.34200 or trades above daily pivot 1.33835. Break above could target R1 at 1.3429. While to the downside, we are looking at 1.3347 (S1) and daily low of 1.33380 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.34200 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:

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