USDCAD Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0.23% | 32.0 Pips | ▲ |
| Week to-date | 0.56% | 76.0 Pips | ▲ |
| May | 0.63% | 86.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Fri 08:30 PM | CAD | HIGH | Labour Force Net Change in Employment |
| Fri 08:30 PM | USD | HIGH | Average Hourly Earnings (1-mth) |
| Fri 08:30 PM | USD | HIGH | Nonfarm Payroll Employment |
| Fri 10:00 PM | USD | HIGH | Index of Consumer Sentiment | May flash |
What can we expect from USDCAD today?
Today, the USDCAD pair is exhibiting a bullish daily outlook, having closed at 1.36640 with a 0.23% increase. The pair’s price remains above the 9-day EMA, suggesting continued upward momentum despite a falling stochastic indicator.
If the bullish momentum persists, traders should watch for a break above the daily high of 1.36650, which could lead the pair to test the first resistance level (R1) at 1.36803. A further rally could see the pair targeting the second resistance level (R2) at 1.36967.
On the downside, a bearish scenario could unfold if the pair falls below the daily pivot point at 1.36487. This could lead to a test of the first support level (S1) at 1.36323. Should the selling pressure intensify, the pair might further decline towards the second support level (S2) at 1.36007.
📈 Bull Scenario Watch resistance levels R1 and R2 for bullish continuation. | 📉 Bear Scenario Watch support levels S1 and S2 for bearish breakdown. |
Key levels to watch out:
| R3 | 1.37283 |
| R2 | 1.36967 |
| R1 | 1.36803 |
| Daily Pivot | 1.36487 |
| S1 | 1.36323 |
| S2 | 1.36007 |
| S3 | 1.35843 |