USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.26% | 35.7 Pips |  |
||
| Week to-date | 0.31% | 41.5 Pips |  |
||
| February | 0.67% | 89.4 Pips | |
||
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What happened lately
🇨🇦 Canada CPI Inflation Rate (12-mth) in January dropped to 2.9% compared to previous figure 3.4% in December Source: Statistics Canada
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What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.26% to 1.35235. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.35454 with break above could target R2 at 1.35673 or figure level area. While towards the downside, we are looking at daily low of 1.34700 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.35296 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 | 1.3605 |
| R2 | 1.35673 |
| R1 | 1.35454 |
| Daily Pivot | 1.35077 |
| S1 | 1.34858 |
| S2 | 1.34481 |
| S3 | 1.34262 |
