The USD/CAD exchange rate recorded an increase of 0.18% today and currently stands at CAD$1.3234. Since the end of May, the price has been on a downward trend, with the last low on June 16. was reached at around CAD$1.3178. The last high was on 26.05. recorded at around CAD$1,3653.
The next resistance is at CAD$1.3316, while the next support is at CAD$1.3180. Currently, a continuation of the downward movement can be assumed, whereby the price could fall towards CAD$1.3180, possibly even below. If this expectation is not met, the price could rise towards the resistance at CAD$1.3316 and possibly even move to the CAD$1.34 level.
In addition, there are important economic figures and dates for the next few days, which could influence the price. Retail sales from Canada will be released at 2:30 p.m. Wednesday, followed by initial jobless claims in the U.S. at 2:30 p.m. Thursday. In addition, there are some speeches by FOMC members as well as FED Chairman Powell, which could have an impact on the U.S. dollar.