USDCAD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.03%	4 Pips
Week to-date	0.03%	4 Pips
July	0.25%	33.4 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (1-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (12-mth)
Wed 03:00 PM CAD Bank of Canada Monetary Policy Report
Wed 03:00 PM CAD Bank of Canada Policy Interest Rate
Wed 03:00 PM CAD Bank of Canada Rate Statement
Wed 04:00 PM CAD Bank of Canada Press Conference

What happened lately

No major activities.

What can we expect from USDCAD today?

USDCAD on Monday rose 0.03% to 1.32750. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.32586 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.33042 or trades above daily pivot 1.32814. Break above could target R1 at 1.32978. While to the downside, we are looking at 1.32586 (S1) and daily low of 1.32650 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.33042 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:

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