Fri, 20 Jul 2012 16:05:53 GMT
USD/CAD soars above 200 day SMA
Following an encounter with an accelerated downtrend support at 1.0062, USD/CAD commenced a robust recovery, which has already resulted in a 200 day SMA being effortlessly pierced by the pair. Next notable resistance levels are situated at 1.0105, 1.0159/70 and 1.0218 and are viewed as capable of impeding further advancement by partially or even fully negating bullish impetus.