USD/CAD Down 8 Pips in Last Hour, 2 Day Down Streak Ended; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated July 12, 2022 1:34 GMT)

At the moment, USDCAD’s rate is down -8 pips (-0.06%) from the hour prior. This is the 2nd consecutive hour USDCAD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDCAD entered today at 1.3005, up 57 pips (0.44%) from yesterday. Out of the 39 instruments in the Forex asset class, USDCAD ended up ranking 11th for the day in terms of price change. Here is a price chart of USDCAD.

USDCAD

USDCAD Technical Analysis

Notably, USDCAD is now close to its 20, 50, 100 and 200 day averages, located at 1.294, 1.2847, 1.2752 and 1.2688 respectively, and thus may be at a key juncture along those timeframes. Volatility for USDCAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USDCAD’s price has gone down 5 them.