USDCAD on Wednesday rose 0.24% to 1.33480. What you need to know.

USDCAD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.24%32 Pips
Week to-date0.77%102 Pips
January0.78%103.7 Pips

Upcoming key events (London Time)

Fri 01:30 PM CAD Unemployment Rate
Fri 01:30 PM CAD Net Change in Employment
Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in November below forecast and dropped to 8.79M compared to previous figure 8.852, revised from 8.733M in October Source: Bureau of Labor Statistics

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What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.24% to 1.33480. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.33754 with break above could target R2 at 1.34028 or figure level area. While towards the downside, we are looking at daily low of 1.33130 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.33716 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 0.77% over the past few days.

Key levels to watch out:

R31.3434
R21.34028
R11.33754
Daily Pivot1.33442
S11.33168
S21.32856
S31.32582

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