USDCAD on Tuesday dropped -0.37% to 1.35656. What we know.

USDCAD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday-0.37%-50.3 Pips
Week to-date-0.5%-68.4 Pips
November-2.22%-307.6 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM CAD GDP (12-mth)

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 Tuesday dropped -0.37% to 1.35656. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.35426 with break below could see further selling pressure towards S2 at 1.35197. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.36133 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.35550 would indicate selling pressure.

For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.5%.

Key levels to watch out:

R31.36592
R21.36363
R11.36009
Daily Pivot1.3578
S11.35426
S21.35197
S31.34843

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