USDCAD Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.2% | -28.0 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 |
| Fri 08:30 PM | CAD | HIGH | Labour Force Net Change in Employment |
What can we expect from USDCAD today?
USDCAD is experiencing a bearish daily outlook with a slight decline of 0.2%, closing at 1.41710. The pair is currently above the 9-day EMA, while the stochastic indicator is falling, suggesting potential downward momentum.
If USDCAD manages to break above the daily pivot of 1.4178, it could trigger a bullish scenario. Traders should watch for a move towards the first resistance level (R1) at 1.4203, and further gains could target the second resistance level (R2) at 1.4235.
On the downside, a bearish scenario could unfold if USDCAD falls below the first support level (S1) at 1.4146. Continued selling pressure might push the pair towards the second support level (S2) at 1.4121, aligning with the current bearish daily outlook.
📈 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 | 1.426 |
| R2 | 1.4235 |
| R1 | 1.4203 |
| Daily Pivot | 1.4178 |
| S1 | 1.4146 |
| S2 | 1.4121 |
| S3 | 1.4089 |