7 Aug 2015
USD/CAD back to square one
FXStreet (Córdoba) - USD/CAD is trading below 1.3100 in the aftermath of jobs Friday, after completing a round trip to the 1.3180 area as the greenback was unable to sustain post-NFP gains as investors assess data.
USD/CAD turned sharply lower and dipped to fresh weekly lows at the 1.3050 zone before stabilizing at mid-range. At time of writing, the pair is trading at 1.3100, virtually unchanged on the day.
US economy created 215,000 new jobs in July, slightly below the 222,000 expected while the unemployment rate remained at 7-year low of 5.3%. In Canada, 6,600 jobs were added in July, missing expectations of 9,900, while the jobless rate stayed at 6.8% as expected.
USD/CAD key levels
As for technical levels, next resistances are seen at 1.3183 (Aug 7 high), 1.3196 (Aug 5 high) and 1.3212 (2015 high Aug 5). On the other hand, supports could be found at 1.3047 (Aug 7 low), 1.3000/03 (psychological level/20-day SMA) and 1.2940 (Jul 31 low).
USD/CAD turned sharply lower and dipped to fresh weekly lows at the 1.3050 zone before stabilizing at mid-range. At time of writing, the pair is trading at 1.3100, virtually unchanged on the day.
US economy created 215,000 new jobs in July, slightly below the 222,000 expected while the unemployment rate remained at 7-year low of 5.3%. In Canada, 6,600 jobs were added in July, missing expectations of 9,900, while the jobless rate stayed at 6.8% as expected.
USD/CAD key levels
As for technical levels, next resistances are seen at 1.3183 (Aug 7 high), 1.3196 (Aug 5 high) and 1.3212 (2015 high Aug 5). On the other hand, supports could be found at 1.3047 (Aug 7 low), 1.3000/03 (psychological level/20-day SMA) and 1.2940 (Jul 31 low).