USDCAD on Tuesday rose 0.89% to 1.37790. End April up by 1.79% or 242.1 pips higher. What we know.

USDCAD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.89%	121 Pips
Week to-date	0.81%	111 Pips
April	1.79%	242.1 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 09:15 PM CAD Bank of Canada’s Governor Tiff Macklem speech

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in February rose to 1.2% compared to previous figure -0.1% in January
🇨🇦 Canada GDP (1-mth) in February dropped to 0.2% compared to previous figure 0.5, revised from 0.6% in January Source: Statistics Canada

Latest from X (Twitter)

Tweets by Statistics Canada

What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.89% to 1.37790. 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 1.38229 with break above could target R2 at 1.38669 or figure level area. While towards the downside, we are looking at daily low of 1.36580 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37844 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 0.81% over the past few days.

USDCAD ended month of April trading session up by 1.79% or 242.1 pips higher.

Key levels to watch out: