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6 Nov 2015
USD/CAD hints at dip buying
The hourly 50-period SMA broke through the slower 200-period SMA, adding credence to the recent bullish USD/CAD profile.
If USD/CAD spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.
If USD/CAD spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.