USD/CAD Outlook (06 January 2022)

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Overall, USD/CAD is ranging across. Recently, USD/CAD bounced up from the key level of 1.27.

The Canadian Building Permits m/m data (Actual: 6.8%, Forecast: 2.1%, Previous: 2.4% revised from 1.3%) released yesterday indicated a strong increase in the number of issued building approvals in November.

USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29000.
Look for buying opportunities of USD/CAD.

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