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USD/CAD moving average crossover adds to bullish breakout

USD/CAD 55-day moving average rises over 100-dma

Technically, there isn't much not to like about USD/CAD longs. The pair has been consolidating for three months then broke out Friday and yesterday.

Adding to the reasons to buy is the bullish crossover of the 55-day moving average and the 100-dma.

The past two 55/100 bullish crossovers haven't been great signals but with the way oil is breaking down, it's another reason buy.

But in the short term it all hinges on what the Fed does tomorrow.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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