USDCAD Analysis
| Performance after Monday | |||
| Period | Pct | Chg | Momentum |
| Monday | 0.04% | 6.0 Pips | ▲ |
| Week to-date | 0.04% | 6.0 Pips | ▲ |
| July | 0.06% | 9.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 02:00 AM | USD | HIGH | FOMC Meeting Minutes |
What can we expect from USDCAD today?
The USDCAD pair is showing a mixed outlook today, with a slight daily performance increase of 0.04%. Traders are closely watching for potential movements as the pair remains above the 9-day EMA, indicating a possible bullish bias.
If the USDCAD manages to break above the daily high of 1.42380, it could trigger a bullish scenario. Traders should watch for resistance levels at R1 (1.42307) and R2 (1.42573) as potential targets. A sustained move above these levels could indicate further upward momentum.
Conversely, a bearish scenario may unfold if the pair falls below the daily low of 1.41920. In this case, support levels at S1 (1.41847) and S2 (1.41653) will be crucial to monitor. A break below these levels could suggest a shift towards a bearish trend, especially with the stochastic indicator currently falling.
📈 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 | 1.42767 |
| R2 | 1.42573 |
| R1 | 1.42307 |
| Daily Pivot | 1.42113 |
| S1 | 1.41847 |
| S2 | 1.41653 |
| S3 | 1.41387 |