USDCAD Analysis
| Performance after Tuesday | |||
| Period | Pct | Chg | Momentum |
| Tuesday | -0.03% | -4.0 Pips | ▼ |
| Week to-date | 0.13% | 18.0 Pips | ▲ |
| June | 1.13% | 156.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Wed 08:30 PM | USD | HIGH | CPI Inflation Rate (1-mth) |
| Wed 09:45 PM | CAD | HIGH | Bank of Canada Policy Interest Rate |
| Thu 08:30 PM | USD | HIGH | PPI excluding Food and Energy sectors (12-mth) |
What can we expect from USDCAD today?
The USDCAD pair is experiencing a mixed outlook today, with a slight decline of 0.03% in its daily performance, closing at 1.39470. The pair remains above the 9-day EMA, suggesting a potential for continued upward movement, but the falling stochastic in the overbought zone indicates caution.
📈 Bull Scenario If USDCAD manages to break above the immediate resistance level at R1 (1.3972), it could signal a bullish continuation towards the next resistance at R2 (1.3997). The pair’s position above the 9-day EMA supports this scenario, indicating underlying strength despite the mixed daily outlook. | 📉 Bear Scenario On the downside, a move below the daily pivot of 1.3944 could trigger a bearish scenario, with the first support level at S1 (1.3919) coming into focus. Further bearish momentum could see the pair testing the second support level at S2 (1.3891), especially if the stochastic continues to fall from the overbought zone. |
Key levels to watch out:
| R3 | 1.4025 |
| R2 | 1.3997 |
| R1 | 1.3972 |
| Daily Pivot | 1.3944 |
| S1 | 1.3919 |
| S2 | 1.3891 |
| S3 | 1.3866 |