USDCAD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.11%	14.7 Pips
Week to-date	0.19%	25 Pips
June	-2.53%	-343.3 Pips

Upcoming key events (London Time)

Wed 01:30 PM CAD Retail Trade Turnover (1-mth)
Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies

What happened lately

🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Census Bureau

What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.11% to 1.32230. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.31934 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.32697 or trades above daily pivot 1.32316. Break above could target R1 at 1.32611. While to the downside, we are looking at 1.31934 (S1) and daily low of 1.32020 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.32697 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:

You might be interested in:

New Residential Construction. Census Bureau
Consumer Price Index: New basket weights, 2023 update. Statistics Canada

#USDCAD Trending on Twitter

#USDCAD

〽ike Dull @mdull618 ·

2 Apr

Matriz de correlaciones diarias para 50 sesiones. #EURUSD #GBPUSD #AUDUSD #USDCAD #USDCHF #USDJPY #GOLD #SILVER #CRUDEOIL #NATURALGAS #SP500 #NASDAQ #AAPL #AMZN #COST #BITCOIN📷 #USDX #trading #forex

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Alex john @lalarauf7 ·

2 Apr

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#gbpaud #GBPCAD #USDJPY #Indices #CrudeOil #US30 #SP500 #usdchf #usdcad #EURCAD #EURJPY #Exnes

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👤 @traderzg ·

2 Apr

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

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Wachira Fx @fx_wachira ·

2 Apr

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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