USDCAD on Thursday rose 0.12% to 1.35453. What we know.

USDCAD on Thursday rose 0.12% to 1.35453. What we know.
USDCAD on Thursday rose 0.12% to 1.35453.  What we know.

USDCAD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.12% 15.6 Pips
Week to-date 0.8% 107.3 Pips
August 2.73% 359.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

?? In the week ending 12 August, U.S. Initial Unemployment Insurance Claims dropped to 239K compared to previous figure 250K (revised upward from 248K) Department of Labor
?? U.S. Philadelphia Fed Manufacturing Survey in August exceed forecast and rose to 12 points compared to previous figure -13.5 points in July
?? U.S. Industrial Production (1-mth) in July rose to 1% compared to previous figure -0.8% (revised from -0.5%)

What can we expect from USDCAD today?

USDCAD on Thursday rose 0.12% to 1.35453. 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 1.35679 with break above could target R2 at 1.35904 or figure level area. While towards the downside, we are looking at daily low of 1.34920 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.35525 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 0.8% over the past few days.

Key levels to watch out:

R3 1.36284
R2 1.35904
R1 1.35679
Daily Pivot 1.35299
S1 1.35074
S2 1.34694
S3 1.34469

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