USD/CAD Outlook (21 May 2021)

Overall, USD/CAD is trending downwards. Recently, USD/CAD rejected the resistance zone of 1.21000.

The Canadian retail sales m/m data will be released later at 2030 (SGT).

• Core Retail Sales m/m (Forecast: 2.3%, Previous: 4.8%)
  
• Retail Sales m/m (Forecast: 2.3%, Previous: 4.8%)
  

USD/CAD’s next support zone is at 1.19000 and the next resistance zone is at 1.21000.
Look for selling opportunities of USD/CAD.