USD/CAD Outlook (12 December 2019)

Overall, USD/CAD is moving across. Recently, USD/CAD trended lower and breaking the key level of 1.32 downwards after a slightly negative FOMC meeting, causing the U.S. dollar to weaken.
The Bank of Canada Governor Stephen Poloz will be speaking about Canada’s economic outlook for 2020 tomorrow at 0130 (SGT). During his speech, volatility is expected.
Currently, USD/CAD is testing the support level of 1.31800 and the next resistance level is at 1.33300.
Look for selling opportunities of USD/CAD if it breaks the support level of 1.31800.