USDCAD on Monday rose 0.02% to 1.34803. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Monday
Monday0.02%2.3 Pips
Week to-date0.02%2.3 Pips
March-0.72%-97.2 Pips

Upcoming key events (London Time)

Tue 12:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

No major activities.

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What can we expect from USDCAD today?

USDCAD on Monday rose 0.02% to 1.34803. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.34629 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35096 or trades above daily pivot 1.34863. Break above could target R1 at 1.35036. While to the downside, we are looking at 1.34629 (S1) and daily low of 1.34689 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.35096 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:

Daily Pivot1.34863

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