Overall, USD/CAD is trending downwards. Recently, USD/CAD bounced down from the key level of 1.23.
The Canadian Manufacturing PMI data (Actual: 57.2, Forecast: NA, Previous: 58.5) released yesterday indicated a slight slowdown in the expansion of the manufacturing sector in April.
The Canadian Building Permits m/m data (Forecast: TBA, Previous: 2.1%) will be released later at 2030 (SGT).
Currently, USD/CAD is moving towards the key level of 1.23. Its next support zone is at 1.22400 and the next resistance zone is at 1.23800.
Look for selling opportunities of USD/CAD if it bounces down from the key level of 1.23.
The Canadian Manufacturing PMI data (Actual: 57.2, Forecast: NA, Previous: 58.5) released yesterday indicated a slight slowdown in the expansion of the manufacturing sector in April.
The Canadian Building Permits m/m data (Forecast: TBA, Previous: 2.1%) will be released later at 2030 (SGT).
Currently, USD/CAD is moving towards the key level of 1.23. Its next support zone is at 1.22400 and the next resistance zone is at 1.23800.
Look for selling opportunities of USD/CAD if it bounces down from the key level of 1.23.
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