USDCAD on Wednesday rose 0.85% to 1.36853. What we know.

USDCAD on Wednesday rose 0.85% to 1.36853. What we know.

USDCAD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.85% 115.3 Pips
Week to-date 0.74% 100.3 Pips
April 1.1% 148.3 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇨🇦 Canada Bank of Canada Policy Interest Rate unchanged at 5% compared to previous rate 5% Source: Bank of Canada

Latest from X (Twitter)

What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.85% to 1.36853. 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 1.37415 with break above could target R2 at 1.37978 or figure level area. While towards the downside, we are looking at daily low of 1.35510 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37025 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 0.74% over the past few days.

Key levels to watch out:

R3 1.3893
R2 1.37978
R1 1.37415
Daily Pivot 1.36463
S1 1.359
S2 1.34948
S3 1.34385

Leave a Reply

Your email address will not be published. Required fields are marked *