ByJin Dao Tai
JUL 5, 2021
Overall, USD/CAD is trending upwards. Recently, USD/CAD broke below the key level of 1.24.
The Canadian Manufacturing PMI data (Actual: 56.5, Forecast: 57.4, Previous: 57.0) released last Friday indicated continued expansion of the manufacturing sector albeit at a slower pace.
OPEC+ meetings had been postponed to today. During this time, there may be volatility in CAD.
USD/CAD’s next support zone is at 1.22600 and the next resistance zone is at 1.24800.
Look for short-term buying opportunities of USD/CAD.
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