USDCAD on Monday dropped -0.46% to 1.36642. What is going on.
|Performance after Monday|
|Week to-date||-0.22%||-30.4 Pips|
Upcoming key events (London Time)
Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:30 PM USD FOMC Press Conference
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.46% to 1.36642. Price is below 9-Day EMA while Stochastic is falling in neutral 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 1.36258 (S1) with break below could see further selling pressure towards 1.35875 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.37469 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.36480 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:
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