USD/CAD Outlook (02 July 2021)
ByJin Dao Tai
JUL 2, 2021
Overall, USD/CAD is trending upwards.
OPEC+ meetings yesterday have been delayed. With the possibility that news will be released any time from now, there may be volatility in CAD.
The Canadian Manufacturing PMI data (Forecast: 57.4, Previous: 57.0) will be released later at 2130 (GMT+8).
Currently, USD/CAD is moving towards the resistance zone of 1.24800 and the next support zone is at 1.22600.
If USD/CAD breaks the resistance zone of 1.24800, look for short-term buying opportunities up until the release of the U.S. jobs report at 2030 (GMT+8).
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