Recap As expected, once 0.98 was breached, there is no real support until we see 0.96 handle. After 100% absolute range expansion, the pair bounced off near Y-3. Closed the week at B-0 near Y-2.
Outlook Until B+1 turns into support, this pair is locked in down trend.
Recap of last week Tested resistance level (yellow zone) and then slide down to 50% of the week before. Congestion was expected due to huge directional swings over the ...
USDCAD Sep 17 to Sep 21 Outlook
Lawrence’s Comment
As expected, once 0.98 was breached, there is no real support until we see 0.96 handle. After 100% absolute range expansion, the pair bounced off near Y-3. Closed the week at B-0 near Y-2.
Outlook
Until B+1 turns into support, this pair is locked in down trend.
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