ByJin Dao Tai
APR 28, 2021
Overall, USD/CAD is trending downwards. Recently, USD/CAD bounced off the support zone of 1.23800.
During his testification earlier today, Bank of Canada Governor Tiff Macklem highlighted that the recent rise in inflation is temporary.
The Canadian retail sales m/m data will be released later at 2030 (SGT).
- Core Retail Sales m/m (Forecast: 3.4%, Previous: -1.2%)
- Retail Sales m/m (Forecast: 4.0%, Previous: -1.1%)
USD/CAD’s next support zone is at 1.23800 and the next resistance zone is at 1.26100.
Look for selling opportunities of USD/CAD if it breaks the support zone of 1.23800.
Be sure to follow me on Twitter at @jdtai and on TradingView at Jin_LCMSTraders for my latest post!
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