USDCAD on Tuesday dropped -0.04% to 1.35652. Pair in consolidation. What we know.

USDCAD on Tuesday dropped -0.04% to 1.35652. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.04% -6.1 Pips
Week to-date 0.21% 28.2 Pips
April 0.21% 28.2 Pips

Upcoming key events (London Time)

Wed 05:10 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in February rose to 8.756M compared to previous figure 8.748, revised from 8.863M in January Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in February rose to 1.4% compared to previous figure -3.8, revised from -3.6% in January Source: Census Bureau

Latest from X (Twitter)

What can we expect from USDCAD today?

USDCAD on Tuesday dropped -0.04% to 1.35652. 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 1.35494 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35843 or trades above daily pivot 1.35668. Break above could target R1 at 1.35827. While to the downside, we are looking at 1.35494 (S1) and daily low of 1.35510 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.35510 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 1.3616
R2 1.36001
R1 1.35827
Daily Pivot 1.35668
S1 1.35494
S2 1.35335
S3 1.35161

Leave a Reply

Your email address will not be published.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