USD/CAD Outlook (21 January 2022)

Overall, USD/CAD is trending downwards.

The Canadian retail sales data will be released later at 2130 (GMT+8).

• Core Retail Sales m/m (Forecast: 1.1%, Previous: 1.3%)
  
• Retail Sales m/m (Forecast: 1.2%, Previous: 1.6%)
  

Currently, USD/CAD is testing to break above the key level of 1.25. Its next support zone is at 1.24500 and its next resistance zone is at 1.26100.
Look for short-term buying opportunities of USD/CAD if it breaks above the key level of 1.25.