USDCAD on Thursday rose 0.21% to 1.34818. What we know.
USDCAD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.21% | 28.2 Pips |  | ||
| Week to-date | 0.9% | 120.8 Pips |  | ||
| April | -0.22% | -29.2 Pips |  | ||
Upcoming key events (London Time)
Fri 01:30 PM CAD Retail Trade Turnover (1-mth)
What happened lately
In the week ending 15 April, the Initial Unemployment Insurance Claims rose to 245K compared to 240K, revised from 239K in the previous report Department of Labor 🇺🇸 Philadelphia Fed Manufacturing Survey in April exceed forecast and dropped to -31.3 points compared to previous figure -23.2 points in March
What can we expect from USDCAD today?
USDCAD on Thursday rose 0.21% to 1.34818. Price is above 9-Day EMA while Stochastic is rising.
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 1.34995 with break above could target R2 at 1.35171 or figure level area. While towards the downside, we are looking at daily low of 1.34440 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.34894 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 | 1.35449 |
| R2 | 1.35171 |
| R1 | 1.34995 |
| Daily Pivot | 1.34717 |
| S1 | 1.34541 |
| S2 | 1.34263 |
| S3 | 1.34087 |
You might be interested in:
Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023. Federal Reserve New Residential Construction. Census Bureau
Consumer Price Index, March 2023. Statistics Canada
#USDCAD Trending on Twitter
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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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