USDCAD on Monday dropped -0.02% to 1.35336. Pair in consolidation. What we know.
|Performance after Monday|
|Week to-date||-0.02%||-2.4 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD Durable Goods Orders
Wed 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
What happened lately
🇺🇸 Chicago Fed National Activity Index in March unchanged at -0.19 points compared to previous report in February.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.02% to 1.35336. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.3512 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35673 or trades above daily pivot 1.35396. Break above could target R1 at 1.35613. While to the downside, we are looking at 1.3512 (S1) and daily low of 1.35180 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.35180 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
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