10 Jul 2015
USD/CAD off highs, back to 1.12700
FXStreet (Edinburgh) - The greenback is now losing its shine vs. its Canadian neighbour on Friday, with USD/CAD is now deflating to the 1.2700 area.
USD/CAD focus on CAD data
The pair is prolonging its correction lower from Tuesday’s multi-month highs in the boundaries of 1.2800 the figure, following a softer tone in the greenback and a generalized better sentiment towards the risk-associated universe.
Ahead in the session, CAD will be under pressure as critical labour market figures are due later. Prior surveys expect the Net Change in Employment to have decreased by 10K during May, and the jobless rate to have ticked higher to 6.9% from 6.8%.
USD/CAD key levels
At the moment the pair is up 0.02% at 1.2709 with the next resistance at 1.2726 (high Jul.10) followed by 1.2779 (high Jul.7) and then 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2664 (low Jul.9) would open the door to 1.2537 (low Jul.3) and then 1.2487 (low Jul.1).
USD/CAD focus on CAD data
The pair is prolonging its correction lower from Tuesday’s multi-month highs in the boundaries of 1.2800 the figure, following a softer tone in the greenback and a generalized better sentiment towards the risk-associated universe.
Ahead in the session, CAD will be under pressure as critical labour market figures are due later. Prior surveys expect the Net Change in Employment to have decreased by 10K during May, and the jobless rate to have ticked higher to 6.9% from 6.8%.
USD/CAD key levels
At the moment the pair is up 0.02% at 1.2709 with the next resistance at 1.2726 (high Jul.10) followed by 1.2779 (high Jul.7) and then 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2664 (low Jul.9) would open the door to 1.2537 (low Jul.3) and then 1.2487 (low Jul.1).