USD/CAD rallies to 20-day MA, 1.0275

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USD/CAD rallies to 20-day MA, 1.0275

FITITOL--> FXstreet.com (Barcelona) - The risk aversion rally in the European session sent the USD/CAD up from its support at 1.0232 to the 20-day moving average at 1.0275.

Eurozone confidence data dropped in every parameter in June, Germany has 7000 more unemployed and German sources are playing down the EU Summit achievements. The WTI crude oil is back on losses, down by -0.60%, at 79.80.

The 20-day moving average could hold the pair at 1.0275 from more gains, ahead of 1.0300 psychological level. A break of the 1.0232 support would lead to 1.0160/75 (June 20/21 lows), followed by the 200-day moving average at 1.0120.