USD/CAD Outlook (18 August 2021)
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.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com