USDCAD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.16% | 21.5 Pips |  |
||
| Week to-date | -0.53% | -73 Pips |  |
||
| August | -1.47% | -203 Pips |  |
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Upcoming key events (London Time)
Fri 03:00 PM USD Federal Reserve Chair Jerome Powell speech Sat 01:00 AM USD Jackson Hole Symposium
What happened lately
🇺🇸 In the week ending 17 August, U.S. Initial Unemployment Insurance Claims rose to 232K compared to previous figure 228K (revised from 227K) Source: Department of Labor
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What can we expect from USDCAD today?
USDCAD on Thursday rose 0.16% to 1.36053. Price is below 9-Day EMA while Stochastic is falling.
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 1.36261 with break above could target R2 at 1.36468 or figure level area. While towards the downside, we are looking at daily low of 1.35700 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36188 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.53%.
Key levels to watch out:
| R3 | 1.36749 |
| R2 | 1.36468 |
| R1 | 1.36261 |
| Daily Pivot | 1.3598 |
| S1 | 1.35773 |
| S2 | 1.35492 |
| S3 | 1.35285 |
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