USDCAD Jun 17 to Jun 21 Outlook

By News Robot

Lawrence’s Comment

Recap
As expected, Canadian dollar consolidated around Y-1 with downside bias. Closed the week around Y-1 and below midpoint.

Outlook
No strong directional bias because loonie is so close to par level its attraction cannot be ignored. A flush to 1.00 vs downside wedge breakout to the upside with target Y-0 to B+2 are equally likely.

Breakout play on both ends are just 100 pips. There are better opportunities out there.

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