• Sat. Jun 15th, 2024

USDCAD on Monday rose 0.1% to 1.36223. Pair in consolidation. What we know.


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Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

USDCAD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday 0.1% 13.3 Pips
Week to-date 0.1% 13.3 Pips
May -1.07% -148 Pips

Upcoming key events (London Time)

  Tue 01:30 PM CAD Bank of Canada Core Inflation CPI (12-mth)
  Tue 01:30 PM CAD CPI Inflation Rate (12-mth)
  Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

What can we expect from USDCAD today?

USDCAD on Monday rose 0.1% to 1.36223. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35971 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36353 or trades above daily pivot 1.36162. Break above could target R1 at 1.36414. While to the downside, we are looking at 1.35971 (S1) and daily low of 1.35910 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.36353 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

Key levels to watch out:

R3 1.36857
R2 1.36605
R1 1.36414
Daily Pivot 1.36162
S1 1.35971
S2 1.35719
S3 1.35528
On Key

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