USDCAD Mar 16 to Mar 20 Outlook

Recap
The march towards 1.28 was realized last week. Very strong reactions there with rumours that central banks intervened. But Y+1 acted as support leading to another rush to 1.28. Closed the week above Y+2 and midpoint.

Outlook
Monthly level multiple year high are not easily cleared or rejected in a week or two. It is a process of struggle among all participants. If Loonie continues to hang in this zone in coming few weeks, it is a sign that the zone is accepted with more upside coming.