|Performance after Monday|
|Week to-date||-0.26%||-35.6 Pips|
Upcoming key events (London Time)
Tue 01:30 PM CAD Bank of Canada Core Inflation CPI (12-mth)
Tue 01:30 PM CAD CPI Inflation Rate (12-mth)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD FOMC Monetary Policy Statement
Wed 07:00 PM USD FOMC Economic Projections
Wed 07:00 PM USD Interest Rate Projections
Wed 07:30 PM USD FOMC Press Conference
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.26% to 1.34854. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDCAD looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at S1 1.34582 with break below could see further selling pressure towards S2 at 1.34311. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.35281 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.34660 would indicate selling pressure.
For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.26%.
Key levels to watch out:
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