USD/CAD Outlook (21 November 2019)

Overall, USD/CAD is trending upwards. Recently, USD/CAD trended higher before slowing down below the resistance level of 1.33300.
The Canadian CPI m/m data (Actual: 0.3%, Forecast: 0.3%, Previous: -0.4%) released last night was as forecasted.
The Canadian dollar strengthened slightly as a result.
Bank of Canada (BoC) Governor Stephen Poloz will be speaking about economic change later at 2140 (SGT). During this time, volatility is expected of the Canadian dollar.
Currently, USD/CAD is moving towards the resistance level of 1.33300 and the next support level is at 1.31800.
If USD/CAD were to break the resistance level, look for short-term buying opportunities.