USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.07% | 10.1 Pips |  |
||
| Week to-date | -0.1% | -14.2 Pips |  |
||
| May | 0.38% | 51.6 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
USD Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%). 
CAD Current Account in Q1 rose to -6.17B compared to previous figure -8.05B (revised from -10.64B). Statistics Canada
What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.07% to 1.35988. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35701 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36133 or trades above daily pivot 1.35917. Break above could target R1 at 1.36204. While to the downside, we are looking at 1.35701 (S1) and daily low of 1.35630 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.36133 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 | 1.36707 |
| R2 | 1.3642 |
| R1 | 1.36204 |
| Daily Pivot | 1.35917 |
| S1 | 1.35701 |
| S2 | 1.35414 |
| S3 | 1.35198 |
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Minutes of the Board’s discount rate meetings from April 10 through May 3, 2023. Federal Reserve
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