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USDCAD on Thursday rose 0.15% to 1.38124. Pair in consolidation. What you need to know.

USDCAD on Thursday rose 0.15% to 1.38124. Pair in consolidation. What you need to know.

USDCAD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.15% 20 Pips
Week to-date 1.12% 153.4 Pips
November -0.44% -60.6 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

No major activities.


What can we expect from USDCAD today?

USDCAD on Thursday rose 0.15% to 1.38124. 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 1.37643 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.38160 or trades above daily pivot 1.37901. Break above could target R1 at 1.38383. While to the downside, we are looking at 1.37643 (S1) and daily low of 1.37420 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.38160 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

Key levels to watch out:

R3 1.39123
R2 1.38641
R1 1.38383
Daily Pivot 1.37901
S1 1.37643
S2 1.37161
S3 1.36903

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