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USDCAD on Tuesday dropped -0.26% to 1.36616. What we know.

USDCAD on Tuesday dropped -0.26% to 1.36616. What we know.

USDCAD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.26% -35.2 Pips
Week to-date -0.56% -77.4 Pips
April 1.03% 139.8 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized

What happened lately

No major activities.

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What can we expect from USDCAD today?

USDCAD on Tuesday dropped -0.26% to 1.36616. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.3637 with break below could see further selling pressure towards S2 at 1.36124. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.37142 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.36510 would indicate selling pressure.

For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.56%.

Key levels to watch out:

R3 1.37634
R2 1.37388
R1 1.37002
Daily Pivot 1.36756
S1 1.3637
S2 1.36124
S3 1.35738

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