USDCAD Aug 12 to Aug 16 Outlook

Recap
Bullish bias worked out in earlier part of the week but failed to stay above Y+1 to get to the upside target. FBO against Y+1 gave us Y-0 downside target and eventually stopped at 100% absolute range expansion. Closed the week at week low and below Y-0.

Outlook
Part of the overall mid week US dollar weakening along with other majors.

Failing to hold B-1 will send this pair down to B-2 / par level. The previous bottom at Y-1 was dirty and is asking for a retest. If a better bottom is built at Y-1 down to B-2, we can look forward for a strong rally into end of the year.