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Canadian Dollar Lacks Momentum
USD/CAD is currently trying to settle above the 20 EMA at 1.2100 while the U.S. dollar is gaining some ground against a broad basket of currencies. The U.S. Dollar Index is currently located in the range between the support at the 90 level and the resistance at the 20 EMA at 90.20. In case the U.S. Dollar Index manages to settle above the 20 EMA, it will move towards 90.50 which will be bullish for USD/CAD. Today, foreign exchange market traders had a chance to take a look at trade balance data from U.S. and Canada but these reports had no impact on currency dynamics. Volatility is low, and traders are waiting for ... (full story)