USDCAD Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.06% | -8.0 Pips | ▼ |
| Week to-date | 0.04% | 6.0 Pips | ▲ |
| June | 1.04% | 144.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 08:30 PM | USD | HIGH | PPI excluding Food and Energy sectors (12-mth) |
| Fri 10:00 PM | USD | HIGH | Index of Consumer Sentiment |
What happened lately
On Wednesday, the USDCAD currency pair experienced a slight decline, dropping by 0.06% to close at 1.39390. The trading session saw the pair reach a high of 1.39570 and a low of 1.38970, indicating a period of consolidation.
In terms of economic releases, the US Consumer Price Index (CPI) for May 2026 was reported at 0.5%, aligning with market expectations and slightly lower than the previous month’s figure of 0.6%. Meanwhile, the Bank of Canada maintained its policy interest rate at 2.25%, which was in line with both market consensus and the previous rate.
Looking ahead, market participants will be paying attention to upcoming high-impact events. On Thursday at 8:30 PM (GMT+8), the US Producer Price Index (PPI) excluding Food and Energy sectors for May 2026 is scheduled for release. Additionally, the Index of Consumer Sentiment is set to be announced on Friday at 10:00 PM (GMT+8).
The recent price movement in the USDCAD pair suggests a cautious market sentiment, with traders likely awaiting further economic data to provide clearer direction. The alignment of the US CPI with expectations and the steady Canadian interest rate may have contributed to the consolidation observed in the pair. As the week progresses, the upcoming US economic indicators could potentially influence the pair’s trajectory.
What can we expect from USDCAD today?
The USDCAD pair is experiencing a mixed outlook today, with a slight decrease of 0.06% in its daily performance, closing at 1.39390. Traders should be prepared for potential volatility as the pair hovers above its 9-day EMA and the stochastic indicator rises in the overbought zone.
📈 Bull Scenario A bullish scenario for USDCAD could be triggered if the pair breaks above the daily high of 1.39570. In this case, traders should watch for resistance levels at R1: 1.3965 and potentially R2: 1.3991. The upward momentum could be supported by the pair’s position above the 9-day EMA. | 📉 Bear Scenario Conversely, a bearish scenario might unfold if USDCAD falls below the daily pivot of 1.3931. Key support levels to monitor would be S1: 1.3905 and S2: 1.3871. A decline towards these levels could be influenced by the stochastic indicator’s position in the overbought zone, suggesting potential downward pressure. |
Key levels to watch out:
| R3 | 1.4025 |
| R2 | 1.3991 |
| R1 | 1.3965 |
| Daily Pivot | 1.3931 |
| S1 | 1.3905 |
| S2 | 1.3871 |
| S3 | 1.3845 |