USD/CAD Analysis: Awaits macroeconomic data releases

USD/CAD

The surge of the US Dollar against the Canadian Dollar has extended on Thursday, as the currency pair had reached about the 1.3400 mark during the first part of today's trading session.

However, it is expected that the USD/CAD currency pair makes a brief retracement towards a support level formed by the 50-hour simple moving average and the weekly PP at 1.3280 within this session.

Meanwhile, it is important to note that the Canadian Macroeconomic Data releases scheduled at 13:30 GMT could play a significant roll in the positioning of the currency exchange rate today.

USDCAD

USDCAD

 

Interested in USDCAD technicals? Check out the key levels

    1. R3 1.3621
    2. R2 1.351
    3. R1 1.3445
  1. PP 1.3334
    1. S1 1.3269
    2. S2 1.3159
    3. S3 1.3093

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