USD/CAD Outlook (18 August 2021)
ByJin Dao Tai
AUG 18, 2021
Overall, USD/CAD is ranging across. Recently, USD/CAD broke the resistance zone of 1.26100.
The Canadian Housing Starts data (Actual: 272K, Forecast: 275K, Previous: 281K revised from 282K) released yesterday indicated a slowdown in the number of residential buildings that began construction in July.
The Canadian CPI m/m data (Forecast: 0.3%, Previous: 0.3%) will be released later at 2030 (GMT+8).
Currently, USD/CAD is testing the support zone of 1.26100 and the next resistance zone is at 1.28500.
Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.26100.
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