USD/CAD Outlook (18 August 2021)

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USD/CAD Outlook (18 August 2021)

ByJin Dao Tai

 AUG 18, 2021

USD/CAD Outlook (18 August 2021)

Overall, USD/CAD is ranging across. Recently, USD/CAD broke the resistance zone of 1.26100.

The Canadian Housing Starts data (Actual: 272KForecast: 275KPrevious: 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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nice outlook ranging