ByJin Dao Tai
NOV 16, 2021
Overall, USD/CAD is trending upwards.
The Canadian Housing Starts data (Forecast: 265K, Previous: 251K) will be released later at 2115 (GMT+8).
Bank of Canada Deputy Governor Schembri will be speaking tomorrow at 0100 (GMT+8). During this time, there may be volatility in CAD.
Currently, USD/CAD is moving down towards the key level of 1.25. Its next support zone is at 1.24500 and the next resistance zone is at 1.26100.
Look for short-term buying opportunities of USD/CAD if it bounced up from the key level of 1.25.
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