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USD/CAD Outlook (04 August 2021)

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USD/CAD Outlook (04 August 2021)

ByJin Dao Tai

 AUG 4, 2021

USD/CAD Outlook (04 August 2021)

Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.25.

The Canadian Manufacturing PMI data (Actual: 56.2Forecast: NAPrevious: 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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