USDCAD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.64%	84.6 Pips
Week to-date	0.14%	19 Pips
August	0.67%	88 Pips

Upcoming key events (London Time)

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

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in June dropped to 9.582M compared to previous figure 9.616M (revised from 9.824M)

What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.64% to 1.32700. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.33193 with break above could target R2 at 1.33687 or figure level area. While towards the downside, we are looking at daily low of 1.31820 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.33000 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is bullish as the pair continued to trade higher and is up by 0.14% over the past few days.

Key levels to watch out:

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