Mon, 09 Jul 2012 16:14:24 GMT
USD/CAD fails to fix above 55-day SMA
USD/CAD made a lower start this week, erasing some of the Friday gains. If bearish mood intensifies, investors might fix profits at 1.0099 (200-day SMA). A breakout of this level is likely to open 1.0043 (61.80% Fibo) and 0.9969 (S2 Weekly) in case bearish momentum gains strength. To keep the bullish inertia, the pair has to close above the 55-day SMA (1.0198).