USDCAD Analysis
Performance after Thursday | |||||
Period | Pct | Chg | Momentum | ||
Thursday | -0.02% | -2 Pips | |||
Week to-date | 0.51% | 67 Pips | |||
June | -2.37% | -322 Pips |
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. GDP Annualized in Q1 exceed forecast and rose to 2% compared to previous figure 1.3% in Q4 Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 below forecast and dropped to 4.9% compared to previous figure 5% in Q4 Bureau of Economic Analysis
What can we expect from USDCAD today?
USDCAD on Thursday dropped -0.02% to 1.32480. 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 1.32269 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.32854 or trades above daily pivot 1.32561. Break above could target R1 at 1.32773. While to the downside, we are looking at 1.32269 (S1) and daily low of 1.32350 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.32350 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
R3 | 1.33277 |
R2 | 1.33065 |
R1 | 1.32773 |
Daily Pivot | 1.32561 |
S1 | 1.32269 |
S2 | 1.32057 |
S3 | 1.31765 |
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