Overall, USD/CAD is trending upwards. Recently, USD/CAD broke above the resistance zone of 1.22400 after the hawkish tone sent out by the U.S. Federal Reserve.
The Canadian CPI m/m data (Actual: 0.5%, Forecast: 0.4%, Previous: 0.5%) released yesterday indicated that inflation remained the same as previous month.
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 buying opportunities of USD/CAD if it breaks above the key level of 1.23.
The Canadian CPI m/m data (Actual: 0.5%, Forecast: 0.4%, Previous: 0.5%) released yesterday indicated that inflation remained the same as previous month.
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 buying opportunities of USD/CAD if it breaks above the key level of 1.23.