USDCAD Nov 18 to Nov 22 Outlook

By News Robot

Lawrence’s Comment

Recap
The expected retest of Y-0 gave us a zoom up to above Y+1. But the new high was rejected at once. Another move towards Y-0 was resulted. Closed the week below Y-0 and at week low.

Outlook
FBO against Y+1 points to retest of Y-1. As long as B-0 acting as resistance, Y-1 retest likely.

The price action in both Aussie and Loonie are heavily related to gold price which showed early signs of a potential longer term bottom. If gold fails to hold up, it will take both metal currencies down quickly.

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