USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.42% | 57.5 Pips |  |
||
| Week to-date | 0.76% | 102.4 Pips |  |
||
| December | 0.24% | 31.9 Pips | |
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Upcoming key events (London Time)
Wed 03:00 PM CAD Bank of Canada Policy Interest Rate Wed 03:00 PM CAD Bank of Canada Rate Statement
What happened lately
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics 🇺🇸 U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau
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What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.42% to 1.35934. 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 1.36149 with break above could target R2 at 1.36365 or figure level area. While towards the downside, we are looking at daily low of 1.35320 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.35950 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 | 1.36779 |
| R2 | 1.36365 |
| R1 | 1.36149 |
| Daily Pivot | 1.35735 |
| S1 | 1.35519 |
| S2 | 1.35105 |
| S3 | 1.34889 |
