USD/CAD Outlook (19 August 2021)

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USD/CAD Outlook (19 August 2021)

ByJin Dao Tai

 AUG 19, 2021

USD/CAD Outlook (19 August 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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