USDCAD on Tuesday dropped -0.32% to 1.2535. Pair in consolidation.
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Period Pct Chg Momentum
Tuesday -0.32% -40.8 Pips
Week 2022-06-07 -0.47% -59 Pips
June -0.96% -121.5 Pips

Upcoming Key Events (London Time)

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What Happened

Tuesday 01:30 PM USD Goods and Services Trade Balance in April rose to -87.08$ compared to previous figure -107.7 (revised from -109.8)$. Source
Tuesday 03:00 PM CAD Ivey Purchasing Managers Index in May dropped to 66.7 compared to previous figure 68. Source

What Can We Expect From USDCAD Today?

USDCAD on Tuesday dropped -0.32% to 1.2535. Price is below 9-Day EMA. Stochastic is rising.

Updated daily direction for USDCAD is mixed as the current price action consolidate above 1.2520.

Looking ahead today, with the uncertainty in the price action yesterday we prefer to look at last high of 1.2618 as immediate resistance level and low of 1.2520 as immediate support level. USDCAD need to break on either side to indicate any strong bias. A close below 1.2520 would indicate short-term selling pressure.

Updated weekly direction for USDCAD is bearish as the pair posted lower.

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