USDCAD on Tuesday dropped -0.36% to 1.33135. What we know.
USDCAD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.36% | -47.5 Pips |  | ||
| Week to-date | -0.17% | -23.3 Pips |  | ||
| June | -1.86% | -252.5 Pips | | ||
Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Wed 07:00 PM USD Interest Rate Projections Thu 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇺🇸 U.S. CPI Inflation Rate (12-mth) in May below forecast and dropped to 4% compared to previous figure 4.9% in April Bureau of Labor Statistics 🇺🇸 U.S. Monthly Budget Statement in May exceed forecast and dropped to -240$ compared to previous figure 176$ in April Bureau of the Fiscal Service
What can we expect from USDCAD today?
USDCAD on Tuesday dropped -0.36% to 1.33135. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDCAD looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at S1 1.32709 with break below could see further selling pressure towards S2 at 1.32284. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.33782 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.32820 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 | 1.34633 |
| R2 | 1.34208 |
| R1 | 1.33671 |
| Daily Pivot | 1.33246 |
| S1 | 1.32709 |
| S2 | 1.32284 |
| S3 | 1.31747 |
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CPI for all items rises 0.1% in May; shelter and used cars and trucks up. Bureau of Labor Statistics
#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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