USDCAD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.14% | 19.2 Pips |  |
||
| Week to-date | 0.28% | 38 Pips |  |
||
| July | 0.02% | 3.3 Pips | |
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What happened lately
🇺🇸 U.S. New York Empire State Manufacturing Index in July dropped to -6.6 points compared to previous figure -6 points in June Source: New York Fed
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What can we expect from USDCAD today?
USDCAD on Monday rose 0.14% to 1.36760. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.37013 with break above could target R2 at 1.37265 or figure level area. While towards the downside, we are looking at daily low of 1.36260 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36889 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 | 1.37642 |
| R2 | 1.37265 |
| R1 | 1.37013 |
| Daily Pivot | 1.36636 |
| S1 | 1.36384 |
| S2 | 1.36007 |
| S3 | 1.35755 |
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