USDCAD on Tuesday rose 0.59% to 1.36212. What we know.
USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.59% | 80.2 Pips |  | ||
| Week to-date | 0.55% | 74.2 Pips |  | ||
| May | 0.55% | 74.2 Pips | | ||
Upcoming key events (London Time)
Wed 01:15 PM USD ADP Non-Farm Employment Change 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
🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Census Bureau
What can we expect from USDCAD today?
USDCAD on Tuesday rose 0.59% to 1.36212. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.36645 with break above could target R2 at 1.37079 or figure level area. While towards the downside, we are looking at daily low of 1.35240 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36376 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 | 1.37781 |
| R2 | 1.37079 |
| R1 | 1.36645 |
| Daily Pivot | 1.35943 |
| S1 | 1.35509 |
| S2 | 1.34807 |
| S3 | 1.34373 |
You might be interested in:
Construction Spending. Census Bureau
Gross domestic product by industry: Provinces and territories, 2022. 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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