USD/CAD Outlook (15 September 2020)
Overall, USD/CAD is ranging across.
Yesterday, the U.S. National Hurricane Center reported that tropical storm Sally has strengthened into hurricane and may hit the central Gulf Coast today. This has led to the shutting down of energy companies, causing a decline in oil production.
Currently, USD/CAD is testing the resistance zone of 1.31800 and the next support zone is at 1.29800.
Look for selling opportunities of USD/CAD if it bounces off the resistance zone of 1.31800.
Yesterday, the U.S. National Hurricane Center reported that tropical storm Sally has strengthened into hurricane and may hit the central Gulf Coast today. This has led to the shutting down of energy companies, causing a decline in oil production.
Currently, USD/CAD is testing the resistance zone of 1.31800 and the next support zone is at 1.29800.
Look for selling opportunities of USD/CAD if it bounces off the resistance zone of 1.31800.