USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.05% | -7.6 Pips |  |
||
| Week to-date | 0.14% | 19.6 Pips |  |
||
| July | 1.28% | 174.9 Pips | |
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Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
What happened lately
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in June dropped to 8.184M compared to the previous figure of 8.23M, revised from 8.14M in May. Source: Bureau of Labor Statistics 🇺🇸 U.S. House Price Index (1-mth) in May dropped to 0% from a revised figure of 0.3% in April. Source: FHFA
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What can we expect from USDCAD today?
USDCAD on Tuesday dropped -0.05% to 1.38476. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.38323 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.38644 or trades above daily pivot 1.38483. Break above could target R1 at 1.38637. While to the downside, we are looking at 1.38323 (S1) and daily low of 1.38330 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.38330 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.38951 |
| R2 | 1.38797 |
| R1 | 1.38637 |
| Daily Pivot | 1.38483 |
| S1 | 1.38323 |
| S2 | 1.38169 |
| S3 | 1.38009 |
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