USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.47% | 64.2 Pips |  |
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| Week to-date | 0.47% | 63.6 Pips | |
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| July | 0.45% | 61.6 Pips |  |
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Upcoming key events (London Time)
Tue 02:30 PM USD Federal Reserve Chair Jerome Powell speech Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
No major activities.
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What can we expect from USDCAD today?
USDCAD on Monday rose 0.47% to 1.37380. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.37718 with break above could target R2 at 1.38056 or figure level area. While towards the downside, we are looking at daily low of 1.36580 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37487 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCAD is bullish as the pair continued to trade higher and is up by 0.47% over the past few days.
Key levels to watch out:
| R3 | 1.38625 |
| R2 | 1.38056 |
| R1 | 1.37718 |
| Daily Pivot | 1.37149 |
| S1 | 1.36811 |
| S2 | 1.36242 |
| S3 | 1.35904 |
