ByJin Dao Tai
JUL 6, 2021

Overall, USD/CAD is trending upwards.
It was reported yesterday that the delayed OPEC+ meeting has been cancelled, implying that no deal on August’s oil production quota has been agreed. As a result, this led to the strengthening of oil prices which translated to the strengthening of CAD.
USD/CAD’s next support zone is at 1.22600 and the next resistance zone is at 1.24800.
Look for short-term selling opportunities of USD/CAD.
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