USDCAD on Tuesday rose 0.39% to 1.37418. What we know.

USDCAD Analysis

Performance after Tuesday
Tuesday0.39%53 Pips
Week to-date0.24%33 Pips
October1.21%164.7 Pips

Upcoming key events (London Time)

Wed 03:00 PM CAD Bank of Canada Policy Interest Rate
Wed 09:35 PM USD Federal Reserve Chair Jerome Powell speech
Thu 01:30 PM USD GDP Annualized

What happened lately

No major activities.


What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.39% to 1.37418. Price is above 9-Day EMA while Stochastic is falling.

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 1.37789 with break above could target R2 at 1.38159 or figure level area. While towards the downside, we are looking at daily low of 1.36560 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37545 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 0.24% over the past few days.

Key levels to watch out:

Daily Pivot1.37174

You might be interested in:

New Housing Price Index, September 2023. Statistics Canada

Leave a comment

Your email address will not be published. Required fields are marked *