USDCAD on Wednesday rose 0.44% to 1.3395. Buying interest. What happened.

USDCAD by TradingView

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.44%	59.1 Pips
Week to-date	0.39%	52.5 Pips
February	0.67%	89.4 Pips

Upcoming key events (London Time)

No further events

What happened lately

📆 ☢️ 🇺🇸 USD Retail Sales Control Group in January exceed forecast and rose to 1.7% compared to previous figure -0.7% in December. Source
📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (YoY) in January exceed forecast and dropped to 5.6% compared to previous figure 5.7% in December. Source

What can we expect from USDCAD today?

USDCAD on Wednesday rose 0.44% to 1.3395. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCAD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is at 1.34445 (R1) while on the downside, we are looking at daily low of 1.3336 as an important support. Break below this level could weaken the current bullish momentum. USDCAD need to break on either side to indicate a short-term bias. A break above 1.3440 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDCAD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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Last updated: 11:37 pm UTC, 15-Feb 2023

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