USDCAD on Tuesday rose 0.54% to 1.36150. What we know.

USDCAD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.54%	73.7 Pips
Week to-date	0.58%	79 Pips
April	0.77%	104 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD Durable Goods Orders
Wed 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
Thu 01:30 PM USD GDP Annualized

What happened lately

🇺🇸 New Residential Sales (1-mth) in March exceed forecast and rose to 0.683M compared to previous figure 0.623, revised from 0.64M in February Census Bureau
🇺🇸 Housing Price Index (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.1, revised from 0.2% in January
🇺🇸 Chicago Fed National Activity Index in March unchanged at -0.19 points compared to previous report in February.

What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.54% to 1.36150. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 1.36685 with break above could target R2 at 1.37219 or figure level area. While towards the downside, we are looking at daily low of 1.35200 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36477 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is bullish as the pair continued to trade higher and is up by 0.58% over the past few days.

Key levels to watch out:

You might be interested in:

New Housing Price Index, March 2023. Statistics Canada

Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.