USDCAD on Tuesday dropped -0.08% to 1.35780. Pair in consolidation. What we know.
|Performance after Tuesday|
|Week to-date||-0.61%||-83 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD Producer Price Index (12-mth)
Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
No major activities.
What can we expect from USDCAD today?
USDCAD on Tuesday dropped -0.08% to 1.35780. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35563 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36170 or trades above daily pivot 1.35867. Break above could target R1 at 1.36083. While to the downside, we are looking at 1.35563 (S1) and daily low of 1.35650 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.35650 would indicate selling pressure.
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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