USDCAD on Wednesday rose 0.09% to 1.35860. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Wednesday
Wednesday0.09%12.7 Pips
Week to-date-0.35%-48 Pips
November-2.04%-282.4 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM CAD GDP (12-mth)
Fri 01:30 PM CAD Net Change in Employment
Fri 01:30 PM CAD Unemployment Rate
Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in September unchanged at 0.6% compared to previous report in August.

Latest from X (Twitter)

What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.09% to 1.35860. 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 1.35437 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36149 or trades above daily pivot 1.35793. Break above could target R1 at 1.36216. While to the downside, we are looking at 1.35437 (S1) and daily low of 1.35370 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.36149 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.35%.

Key levels to watch out:

Daily Pivot1.35793

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