USD/CAD Daily Forecast – Canadian Dollar Continues To Trade In A Tight Range

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Vladimir ZernovJune 10, 2021, 9:36 AM·2 min readOops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.

USD/CAD Video 10.06.21.

U.S. Dollar Is Mostly Flat Against Canadian Dollar

USD/CAD is still trading near the 20 EMA at 1.2100 while the U.S. dollar is losing some ground against a broad basket of currencies.

The U.S.

Dollar Index has recently made an attempt to settle below the support at the 90 level but failed to develop sufficient downside momentum and rebounded back above this level. As a result, the U.S. Dollar Index remains stuck between 90 and the resistance at the 20 EMA at 90.20. If the U.S. Dollar Index gets above the 20 EMA, it will move towards 90.50 which will be bullish for USD/CAD.

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