USDCAD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.09% | -12.7 Pips |  |
||
| Week to-date | -0.2% | -27 Pips |  |
||
| June | 0.17% | 22.7 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April 🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau
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What can we expect from USDCAD today?
USDCAD on Wednesday dropped -0.09% to 1.37060. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks bearish as the pair posted lower in Wednesday trading session.
Looking ahead for the day, immediate support level is at S1 1.36907 with break below could see further selling pressure towards S2 at 1.36753. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.37260 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.36930 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.37567 |
| R2 | 1.37413 |
| R1 | 1.37237 |
| Daily Pivot | 1.37083 |
| S1 | 1.36907 |
| S2 | 1.36753 |
| S3 | 1.36577 |
