USDCAD on Tuesday rose 0.17% to 1.35270. Pair in consolidation. What is going on.

USDCAD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday0.17%22.3 Pips
Week to-date0.19%25.3 Pips
February0.71%95.7 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized
Thu 01:30 PM CAD GDP (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau

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What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.17% to 1.35270. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.34916 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35392 or trades above daily pivot 1.35154. Break above could target R1 at 1.35508. While to the downside, we are looking at 1.34916 (S1) and daily low of 1.34800 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.35392 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

Key levels to watch out:

R31.361
R21.35746
R11.35508
Daily Pivot1.35154
S11.34916
S21.34562
S31.34324

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