USDCAD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.15%	19.5 Pips
Week to-date	0.15%	19.5 Pips
August	2.06%	271.8 Pips

Upcoming key events (London Time)

Tue 01:30 PM USD Monthly Retail Trade (1-mth)
Tue 01:30 PM CAD Bank of Canada Core Inflation CPI (12-mth)
Tue 01:30 PM CAD CPI Inflation Rate (12-mth)
Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

What can we expect from USDCAD today?

USDCAD on Monday rose 0.15% to 1.34575. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.34343 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.34800 or trades above daily pivot 1.34572. Break above could target R1 at 1.34803. While to the downside, we are looking at 1.34343 (S1) and daily low of 1.34340 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.34800 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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No major reports.