Overall, USD/CAD is trending downwards.

The Canadian retail sales data released last Friday indicated a rebound in consumer spending in August from July’s decline.

  • Core Retail Sales m/m (Actual: 2.8%, Forecast: 2.6%, Previous: -0.4% revised from -1.0%)
  • Retail Sales m/m (Actual: 2.1%, Forecast: 2.0%, Previous: -0.1% revised from -0.6%)

USD/CAD’s next support zone is at 1.22600 and the next resistance zone is at 1.24500.
Look for short-term selling opportunities of USD/CAD.

Be sure to follow me on Twitter at @jdtai and on TradingView at Jin_LCMSTraders for my latest post!


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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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