USDCAD Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0% | 0 Pips | ▼ |
| Week to-date | -0.79% | -112.0 Pips | ▼ |
| July | -1.08% | -154.0 Pips | ▼ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Fri 10:00 PM | USD | HIGH | Index of Consumer Sentiment |
What happened lately
In the latest trading session, the USDCAD currency pair experienced a slight decline, closing at 1.40410. The pair’s movement was relatively flat, with a high of 1.40580 and a low of 1.40080, indicating a period of consolidation. This suggests that neither the US dollar nor the Canadian dollar had a decisive advantage during the session.
The only economic data released on the previous trading day was the US Monthly Retail Trade report for May 2026, which came in as expected at 0.2%. This was a decrease from the previous month’s figure of 0.9%. The retail trade data did not appear to have a significant impact on the USDCAD pair, as the market reaction was muted.
Looking ahead, market participants will be closely watching the upcoming release of the Index of Consumer Sentiment for the US, scheduled for Friday at 10:00 PM GMT+8. This high-impact event could potentially influence the US dollar, depending on whether the data meets, exceeds, or falls short of market expectations.
Overall, the market sentiment for USDCAD remains neutral, with the pair in a consolidation phase. Traders are likely awaiting further economic data or developments to provide direction for the currency pair. Until then, USDCAD may continue to trade within its current range.
What can we expect from USDCAD today?
USDCAD is showing a mixed outlook today, with the pair closing at 1.40410, unchanged from the previous session. Traders are watching for potential movements as the price remains below the 9-day EMA, with the stochastic indicator rising in the oversold zone.
If bullish momentum picks up, USDCAD could test the immediate resistance level at R1, 1.40633. A break above this level might see the pair targeting the next resistance at R2, 1.40857. The rising stochastic in the oversold zone could support a bullish scenario if momentum continues to build.
On the downside, a bearish scenario could unfold if USDCAD breaks below the daily pivot at 1.40357, with the first support level at S1, 1.40133. Further selling pressure might push the pair towards the second support level at S2, 1.39857. The weekly bearish outlook and performance could weigh on the pair, supporting a move lower.
📈 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 | 1.41133 |
| R2 | 1.40857 |
| R1 | 1.40633 |
| Daily Pivot | 1.40357 |
| S1 | 1.40133 |
| S2 | 1.39857 |
| S3 | 1.39633 |