USDCAD Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | 0.18% | 25.0 Pips | ▲ |
| Week to-date | 0.57% | 80.0 Pips | ▲ |
| June | 3.17% | 437.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 08:30 PM | USD | HIGH | PCE Price Index, excluding food and energy (1-mth) |
What can we expect from USDCAD today?
USDCAD is showing a bullish daily outlook as it continues to trade above the 9-day EMA. The pair has closed with a 0.18% gain at 1.42320, maintaining its upward momentum for the week with a 0.57% increase.
If the bullish sentiment persists, USDCAD may test the first resistance level at 1.42527. A break above this level could pave the way for further gains towards the second resistance at 1.42733. The pair’s position above the 9-day EMA supports this bullish scenario, although traders should be cautious of the falling stochastic in the overbought zone.
Conversely, a bearish move could be triggered if USDCAD falls below the daily pivot point at 1.42273. In this case, the first support level to watch is 1.42067, with further declines potentially targeting the second support at 1.41813. The falling stochastic in the overbought zone may indicate a potential pullback.
📈 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 | 1.42987 |
| R2 | 1.42733 |
| R1 | 1.42527 |
| Daily Pivot | 1.42273 |
| S1 | 1.42067 |
| S2 | 1.41813 |
| S3 | 1.41607 |