USDCAD on Wednesday rose 0.12% to 1.36909. What we know.

USDCAD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.12%	16.9 Pips
Week to-date	0.48%	64.8 Pips
June	0.48%	64.8 Pips

Upcoming key events (London Time)

Fri 01:30 PM CAD Net Change in Employment
Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 01:30 PM USD Average Hourly Earnings (12-mth)

What happened lately

🇨🇦 Canada Bank of Canada Policy Interest Rate dropped to 4.75% compared to previous rate 5% Source: Bank of Canada
🇺🇸 U.S. Factory Orders (1-mth) in April unchanged at 0.7% compared to previous report in March. Source: Census Bureau
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in April dropped to 8.059M compared to previous figure 8.355, revised from 8.488M in March Source: Bureau of Labor Statistics

Latest from X (Twitter)

Tweets by Statistics Canada

What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.12% to 1.36909. 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 1.37346 with break above could target R2 at 1.37783 or figure level area. While towards the downside, we are looking at daily low of 1.36610 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37415 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

Key levels to watch out: