USD/CAD Outlook (04 August 2021)
AUG 4, 2021
Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.25.
The Canadian Manufacturing PMI data (Actual: 56.2, Forecast: NA, Previous: 56.5) released yesterday indicated continued expansion of the manufacturing sector in July.
The Canadian Building Permits m/m data (Forecast: 6.0%, Previous: -14.8%) will be released later at 2030 (GMT+8).
USD/CAD’s next support zone is at 1.24500 and the next resistance zone is at 1.26100.
Look for buying opportunities of USD/CAD.
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