USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.33% | -44.4 Pips |  |
||
| Week to-date | -0.3% | -39.9 Pips |  |
||
| April | -0.36% | -48 Pips | |
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Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth) | Mar Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth) | Mar 
Wed 03:00 PM CAD Bank of Canada Policy Interest Rate Wed 07:00 PM USD FOMC Meeting Minutes Thu 02:00 PM CAD Bank of Canada’s Governor Tiff Macklem speech
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Tuesday dropped -0.33% to 1.34631. Price is below 9-Day EMA while Stochastic is rising.
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 1.34434 with break below could see further selling pressure towards S2 at 1.34237. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.35160 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.34600 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 | 1.35554 |
| R2 | 1.35357 |
| R1 | 1.34994 |
| Daily Pivot | 1.34797 |
| S1 | 1.34434 |
| S2 | 1.34237 |
| S3 | 1.33874 |
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