ByJin Dao Tai
MAY 17, 2021
Overall, USD/CAD is trending downwards. Recently, USD/CAD trended into the support zone of 1.21000 after the release of the poor U.S. retail sales data.
The Canadian Housing Starts data (Forecast: 305K, Previous: 335K) will be released later at 2015 (SGT).
Currently, USD/CAD is testing the support zone of 1.21000 and the next resistance zone is at 1.22400.
Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.21000.
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