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USDCAD | Market outlook

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The Canadian dollar weakened slightly against its U.S. counterpart on Friday, but ended a volatile week higher as investor sentiment improved and a preliminary estimate showed Canadian retail sales rebounding in June. CAD weakened 0.1% per greenback. For the week, the Canadian currency gained 0.3%, after three straight weekly declines. Canadian retail sales dropped 2.1% in May from April, Statistics Canada said, less than a 3.0% decline forecast by economists.

We will likely see bearish trend continuation in the following sessions. It's recommended to sell on the rallies.
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