USDCAD on Tuesday rose 0.13% to 1.35899. Winners and losers.

USDCAD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday0.13%17.3 Pips
Week to-date0.27%36.9 Pips
March0.09%12.5 Pips

Upcoming key events (London Time)

Wed 02:45 PM CAD Bank of Canada Policy Interest Rate
Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
Wed 03:30 PM CAD Bank of Canada Press Conference

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in January dropped to -3.6% compared to previous figure -0.3, revised from 0.2% in December Source: Census Bureau

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What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.13% to 1.35899. Price is above 9-Day EMA while Stochastic is falling.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.36129 with break above could target R2 at 1.3636 or figure level area. While towards the downside, we are looking at daily low of 1.35510 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36050 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:

R31.36669
R21.3636
R11.36129
Daily Pivot1.3582
S11.35589
S21.3528
S31.35049

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