|Performance after Tuesday|
|Week to-date||0.27%||35.8 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized
Thu 09:00 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. New-Home Sales Change (1-mth) in August below forecast and dropped to -8.7% compared to previous figure 4.4% in July
🇺🇸 U.S. Housing Price Index (1-mth) in July exceed forecast and rose to 0.8% compared to previous figure 0.4, revised from 0.3% in June
What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.46% to 1.35168. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.35478 with break above could target R2 at 1.35788 or figure level area. While towards the downside, we are looking at daily low of 1.34460 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.35279 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
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