USDCAD London briefing — 2026-05-12

BIAS BULLISH — H1 structure bullish despite H4 neutral; D1 hierarchy confirms commitment above 1.36962. KEY LEVELS R: 1.37, 1.37141, 1.375 | S: 1.365, 1.36, 1.35503 NEWS 🔴 CPI MoM (USD) 12:30 UTC | 🟡 ADP Employment 12:15 UTC | 🟡 NFIB Optimism 10:00 UTC SESSION OUTLOOK CPI data critical for USD strength; watch reaction at 1.37 resistance. ADP settlement may accelerate bullish momentum if beats. PRO UNLOCKS Entry 1.3698, SL 1.3650, TP1 1.3714, TP2 1.3750 — FVG 1.3680–1.3690 — unlock

Key Levels

R: 1.37000 · 1.37141 · 1.37500

S: 1.36500 · 1.36000 · 1.35503