USDCAD on Monday dropped -0.02% to 1.33680. Pair in consolidation. What we know.
USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.02% | -3 Pips |  | ||
| Week to-date | -0.02% | -3 Pips | | ||
| May | -1.32% | -179 Pips | | ||
Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Monday dropped -0.02% to 1.33680. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.33235 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.33875 or trades above daily pivot 1.33555. Break above could target R1 at 1.34. While to the downside, we are looking at 1.33235 (S1) and daily low of 1.33110 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.33110 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:
| R3 | 1.34765 |
| R2 | 1.3432 |
| R1 | 1.34 |
| Daily Pivot | 1.33555 |
| S1 | 1.33235 |
| S2 | 1.3279 |
| S3 | 1.3247 |
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#USDCAD Trending on Twitter
Ya disponible el #forecast en #forex para esta semana en mi canal de youtube; los pares a vigilar son: #USDJPY #CADCHF #GBPNZD #USDCAD
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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