USDCAD on Monday dropped -0.04% to 1.35357. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Monday
PeriodPctChgMomentum
Monday-0.04%-5.3 Pips
Week to-date-0.04%-5.3 Pips
March-0.31%-42.5 Pips

Upcoming key events (London Time)

Tue 12:30 PM CAD CPI Inflation Rate (12-mth)
Tue 12:30 PM CAD Bank of Canada Core Inflation CPI (12-mth)
Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:00 PM USD FOMC Economic Projections
Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

No major activities.

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What can we expect from USDCAD today?

USDCAD on Monday dropped -0.04% to 1.35357. 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 1.35173 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35515 or trades above daily pivot 1.35344. Break above could target R1 at 1.35528. While to the downside, we are looking at 1.35173 (S1) and daily low of 1.35160 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.35160 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:

R31.35883
R21.35699
R11.35528
Daily Pivot1.35344
S11.35173
S21.34989
S31.34818

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