USDCAD on Tuesday dropped -0.15% to 1.34540. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Tuesday
Tuesday-0.15%-20 Pips
Week to-date0.21%28 Pips
January1.59%210.5 Pips

Upcoming key events (London Time)

Wed 02:45 PM CAD Bank of Canada Policy Interest Rate
Thu 01:30 PM USD GDP Annualized

What happened lately

No major activities.

Latest from X (Twitter)

What can we expect from USDCAD today?

USDCAD on Tuesday dropped -0.15% to 1.34540. 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 1.34373 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.34920 or trades above daily pivot 1.34647. Break above could target R1 at 1.34813. While to the downside, we are looking at 1.34373 (S1) and daily low of 1.34480 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.34480 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:

Daily Pivot1.34647

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