USDCAD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.5% | 67.3 Pips |  |
||
| Week to-date | 0.44% | 59.7 Pips |  |
||
| March | -0.29% | -39.7 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Monthly Retail Trade (1-mth) in February rose to 0.6% compared to previous figure -0.8% in January Source: Census Bureau 🇺🇸 U.S. PPI excluding Food and Energy sectors (12-mth) in February unchanged at 2% compared to previous report in January.
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What can we expect from USDCAD today?
USDCAD on Thursday rose 0.5% to 1.35365. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.35667 with break above could target R2 at 1.35968 or figure level area. While towards the downside, we are looking at daily low of 1.34550 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.35410 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 | 1.36527 |
| R2 | 1.35968 |
| R1 | 1.35667 |
| Daily Pivot | 1.35108 |
| S1 | 1.34807 |
| S2 | 1.34248 |
| S3 | 1.33947 |
