2020-07-31 17:12
Market analysisUSD/CAD Outlook (31 July 2020)
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Market analysis：
Overall, USD/CAD is trending downwards. Recently, USD/CAD broke the resistance zone of 1.33800.
The Canadian GDP m/m data (Forecast: 3.5%, Previous: -11.6%) will be released later at 2030 (SGT).
USD/CAD’s next support zone is at 1.33800 and the next resistance zone is at 1.35100.
With the recent decline in oil prices which caused a weakening in CAD, look for short-term buying opportunities of USD/CAD up until the release of the Canadian GDP data at 2030 (SGT).
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USD/CAD Outlook (31 July 2020)
Singapore | 2020-07-31 17:12Overall, USD/CAD is trending downwards. Recently, USD/CAD broke the resistance zone of 1.33800.
The Canadian GDP m/m data (Forecast: 3.5%, Previous: -11.6%) will be released later at 2030 (SGT).
USD/CAD’s next support zone is at 1.33800 and the next resistance zone is at 1.35100.
With the recent decline in oil prices which caused a weakening in CAD, look for short-term buying opportunities of USD/CAD up until the release of the Canadian GDP data at 2030 (SGT).
Forex
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