USDCAD on Tuesday rose 0.04% to 1.3337. Pair in consolidation. What goes around.

USDCAD by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.04%	5.2 Pips
Week to-date	-0.04%	-6 Pips
February	0.24%	31.7 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD Retail Sales (MoM)
Wed 01:30 PM USD Retail Sales Control Group

What happened lately

📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (MoM) in January unchanged at 0.4% compared to previous report in December. The actual figure is also in line with the forecast. Source

What can we expect from USDCAD today?

USDCAD on Tuesday rose 0.04% to 1.3337. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.32764 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.3390 or trades above daily pivot 1.33334 while to the downside, the daily low of 1.3273 and 1.32764 (S1) as key support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.3390 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDCAD is bearish as the pair posted lower by -0.04%.

Key levels to watch out:

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Last updated: 11:37 pm UTC, 14-Feb 2023

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