USDCAD on Thursday rose 0.07% to 1.36310. What we know.

USDCAD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.07%	9.3 Pips
Week to-date	-0.05%	-7 Pips
July	-0.3%	-41.7 Pips

Upcoming key events (London Time)

Fri 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

🇺🇸 In the week ending 06 July, U.S. Initial Unemployment Insurance Claims dropped to 222K compared to previous figure 239K (revised from 238K) Source: Department of Labor
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in June dropped to 0.1% compared to previous figure 0.2% in May Source: Bureau of Labor Statistics

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What can we expect from USDCAD today?

USDCAD on Thursday rose 0.07% to 1.36310. Price is below 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.3658 with break above could target R2 at 1.3685 or figure level area. While towards the downside, we are looking at daily low of 1.35840 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36480 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:

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