USDCAD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.17% | -23.1 Pips |  |
||
| Week to-date | -0.34% | -47.1 Pips |  |
||
| June | 0.02% | 2.6 Pips |  |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in June dropped to 1.3 points compared to previous figure 4.5 points in May
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What can we expect from USDCAD today?
USDCAD on Thursday dropped -0.17% to 1.36859. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 1.36683 with break below could see further selling pressure towards S2 at 1.36508. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.37208 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.36770 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 | 1.37559 |
| R2 | 1.37384 |
| R1 | 1.37121 |
| Daily Pivot | 1.36946 |
| S1 | 1.36683 |
| S2 | 1.36508 |
| S3 | 1.36245 |
