USDCAD on Monday dropped -0.15% to 1.36142. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Monday
PeriodPctChgMomentum
Monday-0.15%-19.8 Pips
Week to-date-0.15%-19.8 Pips
November-1.86%-257.7 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized

What happened lately

🇺🇸 U.S. New-Home Sales Change (1-mth) in October below forecast and dropped to -5.6% compared to previous figure 8.6, revised from 12.3% in September

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What can we expect from USDCAD today?

USDCAD on Monday dropped -0.15% to 1.36142. 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 1.35951 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36610 or trades above daily pivot 1.36281. Break above could target R1 at 1.36471. While to the downside, we are looking at 1.35951 (S1) and daily low of 1.36090 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.36090 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:

R31.36991
R21.36801
R11.36471
Daily Pivot1.36281
S11.35951
S21.35761
S31.35431

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