USDCAD Analysis
| Performance after Tuesday | |||
| Period | Pct | Chg | Momentum |
| Tuesday | -0.04% | -5.0 Pips | ▼ |
| Week to-date | 0.01% | 1.0 Pips | ▲ |
| July | 0.03% | 4.0 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?
USDCAD’s outlook for Tuesday remains mixed, with the pair closing slightly lower at 1.41990, a 0.04% decline. The daily performance suggests a cautious market, with price levels fluctuating within a narrow range.
If bullish momentum picks up, USDCAD could test resistance at R1, 1.4223, driven by a move above the daily pivot of 1.4202. A sustained rally could see further gains towards R2 at 1.4247, especially if the price continues to trade above the 9-day EMA.
On the downside, a bearish scenario could unfold if the pair breaks below the support at S1, 1.4178. Further selling pressure might push the price towards S2 at 1.4157, particularly if the falling stochastic indicator signals continued downward momentum.
📈 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 | 1.4268 |
| R2 | 1.4247 |
| R1 | 1.4223 |
| Daily Pivot | 1.4202 |
| S1 | 1.4178 |
| S2 | 1.4157 |
| S3 | 1.4133 |