USDCAD Apr 30 to May 04 Outlook

By News Robot

Lawrence’s Comment

Recap
Resistance zone worked out giving us a flush to below Y-1 in one slow drop. Y-1 turned into resistance and closed the week at week low.

Outlook
Y-2 is still in play.

A quick flush to Y-2 and bounce back above B-1 could signal a short term bottom with consolidation near B-0 area.

Taking out B-0 quickly from below will send loonie back to B+1.

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