USD/CAD Outlook (20 December 2019)

Overall, USD/CAD is trending downwards. Recently, USD/CAD trended slightly higher.
The Canadian retail sales m/m data will be released later at 2130 (SGT).

Core Retail Sales m/m (Forecast: 0.2%, Previous: 0.2%)
Retail Sales m/m (Forecast: 0.5%, Previous: -0.1%)

If the released data is better than or as forecasted, the Canadian dollar may strengthen.
USD/CAD’s next support level is at 1.30600 and the next resistance level is at 1.31800.
Wait for the retail sales data to be released before looking for trading opportunities of USD/CAD.