USDCAD Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | -0.03% | -4.0 Pips | ▼ |
| Week to-date | -0.22% | -31.0 Pips | ▼ |
| July | -0.2% | -28.0 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 showing a mixed outlook today, with a slight decline of 0.03% in its daily performance, closing at 1.41670. Traders should watch for potential movements around the daily pivot of 1.4169.
If bullish momentum gains traction, we could see USDCAD testing the resistance level at R1, 1.4187. A break above this level might lead to further upward movement towards the next resistance at R2, 1.4207. The rising stochastic indicator suggests that there is potential for upward momentum.
On the downside, if USDCAD continues to trade below the 9-day EMA, it may encounter support at S1, 1.4149. A breach of this support level could lead to a further decline towards S2, 1.4131. The mixed daily and weekly outlooks indicate that traders should be cautious of potential downward pressure.
📈 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 | 1.4225 |
| R2 | 1.4207 |
| R1 | 1.4187 |
| Daily Pivot | 1.4169 |
| S1 | 1.4149 |
| S2 | 1.4131 |
| S3 | 1.4111 |