USDCAD tests 200 day MA

Technical Analysis

Author: Greg Michalowski | usdcad

MA at 1.3499 (call it 1.3500)

The USDCAD has moved down to within a few pips of the 200 day MA at 1.3499 (call it 1.3500). The price has not traded below the 200 day MA since June 11.  
 
MA at 1.3499 (call it 1.3500)

The recent move lower comes despite the larger than expected deficit.  Will it encourage the dip buyers though? Risk is low.

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