USD/CAD Outlook (19 August 2021)
AUG 19, 2021
Overall, USD/CAD is ranging across. Recently, USD/CAD bounced off the support zone of 1.26100 after the release of the hawkish Federal Reserve meeting minutes.
The Canadian CPI m/m data (Actual: 0.6%, Forecast: 0.3%, Previous: 0.3%) released yesterday indicated that inflation rose faster in July than in June.
USD/CAD’s next support zone is at 1.26100 and the next resistance zone is at 1.28500.
Look for short-term buying opportunities of USD/CAD.
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