USDCAD on Tuesday rose 0.02% to 1.34850. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday0.02%2.1 Pips
Week to-date0.05%7 Pips
March-0.68%-92.4 Pips

Upcoming key events (London Time)

Thu 12:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Thu 12:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

No major activities.

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What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.02% to 1.34850. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.34562 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35254 or trades above daily pivot 1.34908. Break above could target R1 at 1.35196. While to the downside, we are looking at 1.34562 (S1) and daily low of 1.34620 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.35254 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:

R31.3583
R21.35542
R11.35196
Daily Pivot1.34908
S11.34562
S21.34274
S31.33928

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