USD/CAD looking to regain 1.3100 ahead of NFP

The greenback is slightly lower vs. its Canadian counterpart on Friday, with USD/CAD hovering over the 1.3100 handle.

USD/CAD attention to Payrolls

The pair met increasing selling pressure on Thursday following the poor print from US ISM during August, coming down from recent tops in the mid-1.3100s to the support are around 1.3080.

Spot is now looking to stabilize around the 1.3100 neighbourhood, amidst a steady buck and some signs of life from the West Texas Intermediate around the $43.30 area per barrel.

Ahead in the session, US labour market results will grab all the attention, with consensus expecting the economy to have created 180K jobs during last month. On the Canadian side, Trade Balance figures for the month of July are also due.

USD/CAD significant levels

As of writing the pair is losing 0.07% at 1.3092 and a break below 1.3002 (55-day sma) would expose 1.2980 (base of the 4-month rising channel) and finally 1.2828 (low Aug.26). On the upside, the initial hurdle lines up at 1.3202 (high Aug.5) followed by 1.3253 (high Jul.27) and then 1.3285 (200-day sma).