USDCAD Jun 30 to Jul 04 Outlook

By News Robot

Lawrence’s Comment

Recap
Strength in gold helping to push this pair lower. Resistance at 1.08 was not even challenged. Y-1 resistance gave way to Y-2 target. Closed the week below Y-2 and at week low.

Outlook
A flush through B-1 down to B-2 / Y-3 with a snap back up above B-1 is sign of temporary bottom. It will likely lead to retest of B+1.

Holiday week for Canada thus slow down in overall activities in Loonie is expected.

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