USDCAD on Monday dropped -0.46% to 1.31896. End July down by -0.39% or -52 pips lower. What we know.

USDCAD Analysis

Performance after Monday
Monday-0.46%-61.4 Pips
Week to-date-0.46%-61.4 Pips
July-0.39%-52 Pips

Upcoming key events (London Time)

Tue 03:00 PM USD ISM Manufacturing PMI
Wed 01:15 PM USD ADP Non-Farm Employment Change

What happened lately

No major activities.

USDCAD 4-hour Chart by TradingView

What can we expect from USDCAD today?

USDCAD on Monday dropped -0.46% to 1.31896. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at S1 1.31373 with break below could see further selling pressure towards S2 at 1.3085. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.32613 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.31470 would indicate selling pressure.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

USDCAD ended month of July trading session down by -0.39% or -52 pips lower.

Key levels to watch out:

Daily Pivot1.31993

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