USD/CAD Outlook (18 June 2021)
ByJin Dao Tai
JUN 18, 2021
Overall, USD/CAD is trending upwards. Recently, USD/CAD broke above the key level of 1.23.
The Canadian CPI m/m data (Actual: 0.5%, Forecast: 0.4%, Previous: 0.5%) released yesterday indicated that inflation remained the same as previous month.
Currently, USD/CAD is bouncing off the resistance zone of 1.23800 and the next support zone is at 1.22400.
Look for buying opportunities of USD/CAD if it breaks the resistance zone of 1.23800.
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