USDCAD on Thursday rose 0.04% to 1.38209. What we know.

USDCAD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.04%	5.4 Pips
Week to-date	0.83%	113.9 Pips
July	1.08%	148.2 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. GDP annual rate in the Q2 flash estimate rose to 2.8%, compared to the previous figure of 1.4% in Q1. Source: Bureau of Economic Analysis
🇺🇸 U.S. Durable Goods – New Orders in June dropped to -6.6% from 0.1% in May. Source: Census Bureau
🇺🇸 U.S. Durable Goods Orders excluding Transportation rose to 0.5% in June compared to -0.1% in May. Source: Census Bureau
🇺🇸 In the week ending 20 July, U.S. Initial Unemployment Insurance Claims dropped to 235K compared to previous figure 245K (revised from 243K) Source: Department of Labor
🇺🇸 U.S. New-Home Sales Change (1-mth) in June improved to -0.6% from a revised -14.9% in May.
🇨🇦 Canada Bank of Canada Policy Interest Rate dropped to 4.5% compared to previous rate 4.75% Source: Bank of Canada

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What can we expect from USDCAD today?

USDCAD on Thursday rose 0.04% to 1.38209. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 1.38489 with break above could target R2 at 1.38768 or figure level area. While towards the downside, we are looking at daily low of 1.37930 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.38489 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 0.83% over the past few days.

Key levels to watch out:

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