USDCAD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.2% | 27.3 Pips |  |
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| Week to-date | -0.28% | -38 Pips |  |
||
| August | -2.45% | -338.3 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP annual rate
Fri 01:30 PM CAD GDP (12-mth) Fri 01:30 PM USD PCE Price Index (excluding food and energy) (1-mth) Fri 01:30 PM USD PCE Price Index (excluding food and energy) (12-mth)
What happened lately
🇺🇸 U.S. House Price Index (1-mth) in June dropped to -0.1% from 0% in May. Source: FHFA
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What can we expect from USDCAD today?
USDCAD on Wednesday rose 0.2% to 1.34700. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.34934 with break above could target R2 at 1.35168 or figure level area. While towards the downside, we are looking at daily low of 1.34360 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.34881 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 | 1.35455 |
| R2 | 1.35168 |
| R1 | 1.34934 |
| Daily Pivot | 1.34647 |
| S1 | 1.34413 |
| S2 | 1.34126 |
| S3 | 1.33892 |
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