USDCAD on Thursday dropped -0.33% to 1.36734. What we know.

USDCAD on Thursday dropped -0.33% to 1.36734. What we know.

USDCAD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.33% -45.6 Pips
Week to-date -0.07% -9.6 Pips
May -0.7% -97 Pips

Upcoming key events (London Time)

Fri 01:30 PM CAD Net Change in Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 In the week ending 04 May, U.S. Initial Unemployment Insurance Claims rose to 231K compared to previous figure 209K (revised from 208K) Source: Department of Labor

Latest from X (Twitter)

What can we expect from USDCAD today?

USDCAD on Thursday dropped -0.33% to 1.36734. Price is below 9-Day EMA while Stochastic is rising.

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 1.36476 with break below could see further selling pressure towards S2 at 1.36218. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.37380 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.36670 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 1.37896
R2 1.37638
R1 1.37186
Daily Pivot 1.36928
S1 1.36476
S2 1.36218
S3 1.35766

Leave a Reply

Your email address will not be published. Required fields are marked *