USDCAD on Wednesday rose 0.08% to 1.35055. What we know.

USDCAD on Wednesday rose 0.08% to 1.35055. What we know.

USDCAD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.08% 11.2 Pips
Week to-date 0.73% 98.5 Pips
January 1.96% 259.4 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in December rose to 0.1% compared to previous figure 0.2%
🇺🇸 U.S. Monthly Retail Trade excluding Automobile (1-mth) in December exceed forecast and rose to 0.4% compared to previous figure 0.2% in November
🇨🇦 Canada CPI Inflation Rate (12-mth) in December rose to 3.4% compared to previous figure 3.1% in November Source: Statistics Canada

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What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.08% to 1.35055. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.35395 with break above could target R2 at 1.35734 or figure level area. While towards the downside, we are looking at daily low of 1.34760 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.35417 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 0.73% over the past few days.

Key levels to watch out:

R3 1.36052
R2 1.35734
R1 1.35395
Daily Pivot 1.35077
S1 1.34738
S2 1.3442
S3 1.34081

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