USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.18% | 24.2 Pips |  |
||
| Week to-date | 0.56% | 77.2 Pips | |
||
| July | 0.82% | 111.5 Pips |  |
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Upcoming key events (London Time)
Wed 02:45 PM CAD Bank of Canada Policy Interest Rate
Thu 01:30 PM USD GDP annual rate
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What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.18% to 1.37842. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.37983 with break above could target R2 at 1.38125 or figure level area. While towards the downside, we are looking at daily low of 1.37480 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37873 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 0.56% over the past few days.
Key levels to watch out:
| R3 | 1.38376 |
| R2 | 1.38125 |
| R1 | 1.37983 |
| Daily Pivot | 1.37732 |
| S1 | 1.3759 |
| S2 | 1.37339 |
| S3 | 1.37197 |
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