USDCAD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.09% | 11.4 Pips |  |
||
| Week to-date | -0.45% | -59.3 Pips |  |
||
| December | -2.63% | -356.5 Pips |  |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in October below forecast and dropped to 0.3% compared to previous figure 0.7, revised from 0.6% in September
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What can we expect from USDCAD today?
USDCAD on Wednesday rose 0.09% to 1.32044. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.31778 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.32193 or trades above daily pivot 1.31986. Break above could target R1 at 1.32251. While to the downside, we are looking at 1.31778 (S1) and daily low of 1.31720 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.32193 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.45%.
Key levels to watch out:
| R3 | 1.32724 |
| R2 | 1.32459 |
| R1 | 1.32251 |
| Daily Pivot | 1.31986 |
| S1 | 1.31778 |
| S2 | 1.31513 |
| S3 | 1.31305 |
