Note

USD/CAD Outlook (16 September 2020)

· Views 641

#USD/CAD# USD/CAD Outlook (16 September 2020)

Overall, USD/CAD is ranging across.

Yesterday, the U.S. announced the scrapping of the 10% aluminum tariff on Canada after they expect imports to decline. However, in a scenario whereby the declined amount is not as expected, tariffs will be applied to the excess imports.

The Canadian CPI m/m data (Forecast: 0.1%, Previous: 0.0%) will be released later at 2030 (SGT).

Currently, USD/CAD is testing the resistance zone of 1.31800 and the next support zone is at 1.29800.
If the released CPI data is better than forecasted, look for short-term selling opportunities of USD/CAD if it bounces off the resistance zone of 1.31800.

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

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.