USDCAD 1W | Market Outlook

- USDCAD dropped to 1.3330 last week and quickly recovered of 1.3315 low. A short term bottom is probably in place. Initial bias will stay mildly on the upside for further rebound to 1.3715 resistance. Break of 1.3715 will target 38.2% retracement at 1.3831. On the downside, firm break of 1.3315 will resume the fall from 1.4667