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USDCAD Jul 25 to Jul 29 Outlook
Lawrence’s Comment
Y-0 acted as resistance as expected and that sent Loonie down to almost Y-2. Tight range drift after the break below Y-1 making it difficult to trade this pair at all. End of week bounce challenged Y-1 and B-0 but failed to go higher.
Outlook
B-0 acted as resistance pointing to Y-2 and B-2 in play.
Only way for Loonie to snap out of this down trend is to get a rally that take out B-0 and that B-0 turning into support.
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