USDCAD on Monday rose 0.01% to 1.35490. Pair in consolidation. What we know.
USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.01% | 2 Pips |  | ||
| Week to-date | 0.01% | 2 Pips | | ||
| May | 0.01% | 2 Pips | | ||
Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Wed 07:00 PM USD FOMC Monetary Policy Statement Wed 07:30 PM USD FOMC Press Conference
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday rose 0.01% to 1.35490. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35223 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35830 or trades above daily pivot 1.35527. Break above could target R1 at 1.35793. While to the downside, we are looking at 1.35223 (S1) and daily low of 1.35260 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.35830 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 | 1.36363 |
| R2 | 1.36097 |
| R1 | 1.35793 |
| Daily Pivot | 1.35527 |
| S1 | 1.35223 |
| S2 | 1.34957 |
| S3 | 1.34653 |
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#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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