Recap Fall to support zone after failing to hold Y-1. Since then Y-1 turned into resistance and dropped this further down to Y-2. Closed the week near Y-2 and week low.
Outlook The breakout above the multiple year high finally came back to the crime scene to test the original yearly swing high from above. How price reacts at this zone over the coming 2 weeks will determine if we have another try for new high in coming few months.
USDCAD Mar 07 to Mar 11 Outlook
Lawrence’s Comment
Fall to support zone after failing to hold Y-1. Since then Y-1 turned into resistance and dropped this further down to Y-2. Closed the week near Y-2 and week low.
Outlook
The breakout above the multiple year high finally came back to the crime scene to test the original yearly swing high from above. How price reacts at this zone over the coming 2 weeks will determine if we have another try for new high in coming few months.
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