USDCAD May 06 to May 10 Outlook

By News Robot

Lawrence’s Comment

Recap
No time wasted on further compression. The pair simply break the lower boundary in 1 go. Not quite make it to Y-3. First bounce failed to push back up to Y-1. Closed the week below midpoint and Y-2.

Outlook
Too weak to form a bottom at this level. Further downside will pull this down to B-2 / par level.

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