USD/CAD: Pair Could Move Lower

 | Dec 15, 2021 08:43PM ET

Overall, USD/CAD is trending upwards. Recently, the pair bounced off the resistance zone at 1.29000.

The Canadian CPI m/m data released yesterday indicated a slowdown in monthly inflation for November.

USD/CAD’s next support zone is at 1.26100 and the next resistance zone is at 1.29000. Look for short-term selling opportunities of USD/CAD.