USDCAD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.01% | 2 Pips |  |
||
| Week to-date | 0.01% | 0.8 Pips | |
||
| April | 1.74% | 235.5 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in April rose to 15.5 points compared to previous figure 3.2 points in March 🇺🇸 In the week ending 13 April, Initial Unemployment Insurance Claims in U.S. was unchanged at 212K compared to previous figure 212K (revised from 211K) Source: Department of Labor
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What can we expect from USDCAD today?
USDCAD on Thursday rose 0.01% to 1.37718. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.37454 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.37815 or trades above daily pivot 1.37634. Break above could target R1 at 1.37899. While to the downside, we are looking at 1.37454 (S1) and daily low of 1.37370 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.37815 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:
| R3 | 1.38344 |
| R2 | 1.38079 |
| R1 | 1.37899 |
| Daily Pivot | 1.37634 |
| S1 | 1.37454 |
| S2 | 1.37189 |
| S3 | 1.37009 |
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