USDCAD on Monday dropped -0.66% to 1.37330. Looking bearish. What we know.
USDCAD by TradingView
| Monday | |||
| Open | High | Low | Close |
| 1.38600 | 1.38600 | 1.36780 | 1.37330 |
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.66% | -91.8 Pips |  | ||
| Week to-date | -0.66% | -91.8 Pips |  | ||
| March | 0.73% | 99 Pips | | ||
Upcoming key events (London Time)
Tue 12:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) Wed 12:30 PM USD Retail Sales (1-mth) Wed 12:30 PM USD Retail Control Group
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.66% to 1.37330. Price is above 9-Day EMA while Stochastic is falling but in overbought 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 1.3654 (S1) with break below could see further selling pressure towards 1.3575 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.38600 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.36780 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as the current price action remain uncertain due to trader indecisiveness.
Key levels to watch out:
| R3 | 1.4018 |
| R2 | 1.3939 |
| R1 | 1.3836 |
| Daily Pivot | 1.3757 |
| S1 | 1.3654 |
| S2 | 1.3575 |
| S3 | 1.3472 |
#USDCAD Trending on Twitter
Ya disponible el #forecast en #forex para esta semana en mi canal de youtube; los pares a vigilar son: #USDJPY #CADCHF #GBPNZD #USDCAD
https://youtu.be/sH-DbpXM6X0
The USD/CAD has gone back and forth during the trading week as we continue to see the 1.38 level offer resistance. If the market can break above there, then it’s possible that we could go looking to the 1.40 level #USDCAD #globalmarkets #fx #trading
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