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

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

USD/CAD Video 10.06.21.

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.