USDCAD on Tuesday rose 0.4% to 1.34217. What we know.

USDCAD Analysis

Performance after Tuesday
Tuesday0.4%54 Pips
Week to-date0.33%44.7 Pips
August1.8%237.2 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD CPI Inflation Rate (1-mth)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

No major activities.

USDCAD 4-hour Chart by TradingView

What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.4% to 1.34217. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

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 1.34948 with break above could target R2 at 1.35679 or figure level area. While towards the downside, we are looking at daily low of 1.33630 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.35020 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 0.33% over the past few days.

Key levels to watch out:

Daily Pivot1.34289

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau
Canadian international trade in services, June 2023. Statistics Canada

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