USDCAD on Wednesday dropped -0.08% to 1.33793. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday-0.08%-10.1 Pips
Week to-date0.14%19.3 Pips
January1.01%134 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

No major activities.

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What can we expect from USDCAD today?

USDCAD on Wednesday dropped -0.08% to 1.33793. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.3362 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.33946 or trades above daily pivot 1.33783. Break above could target R1 at 1.33956. While to the downside, we are looking at 1.3362 (S1) and daily low of 1.33610 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.33610 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:

R31.34292
R21.34119
R11.33956
Daily Pivot1.33783
S11.3362
S21.33447
S31.33284

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