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USDCAD on Thursday dropped -0.02% to 1.32480. Pair in consolidation. What we know.

USDCAD on Thursday dropped -0.02% to 1.32480. Pair in consolidation. What we know.

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


USDCAD 4-hour Chart by TradingView

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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