CAD

USDCAD Technical Analysis - Rangebound

• The moves in the USDCAD pair keep being aggressive.

USDCAD reaches cluster of moving average support

• Trend lower finding some support against target moving average levels

USDCAD back below 100 day MA/swing area

• Can the price stay below 100 day MA?

Canadian April home sales +11.3% vs +1.4% prior

• Canadian April home sales data

Canada wholesale trade for March -0.1% versus -0.4% expected

• Canada wholesale trade data for March 2023

Canada April housing starts 262K vs 220K expected

• Canadian housing starts from the CMHC

USDCAD stalls rally near 100 hour MA/swing area today. Increases areas importance

• Swing area between 1.3405 to 1.34214

Canada building permits for March rise 11.3% versus -2.9% expected

• Canada building permits for March 2023

USDCAD rotates from oversold levels to swing area resistance

• Target at 1.3404 to 1.3421 tested

USDCAD Technical Analysis - Big Swings

• First a big rally, then a huge selloff for USDCAD.

USDCAD bounces higher after reaching toward April low

• USDCAD enters a swing area on the daily chart

Canadian province of Alberta declares wildfire emergency (major oil producer)

USDCAD moves down toward a key support target

• 200 day MA approached

Canada April employment 41.4K versus 20.0K estimate

• Canadian April 2023 jobs report data

USD/CAD is now lower on the week despite a 10% drop in oil prices

• USD/CAD at a two-week low