USD/CAD (briefly) tumbles below 1.3200 on data

The Canadian dollar has briefly reverted the negative mood vs. its neighbour, sending USD/CAD to fresh troughs below the 1.3200 handle.

USD/CAD volatile post-data

Despite the initial knee-jerk, spot keeps gyrating around the 1.3200 mark after US Non-farm Payrolls have come in below expectations at 156K for the month of September vs. 172K initially forecasted. The jobless rate has also disappointed investors, climbing a tad to 5% vs. 4.9% estimated.

On the Canadian side, Employment Change increased by more than 67K jobs, surpassing consensus, while the unemployment rate stayed put at 7.0%.

Still on CAD side, the barrel of West Texas Intermediate is alternating gains with losses albeit above the psychological $50.00 mark, ahead of the weekly report by Baker Hughes on US drilling activity due later in the NA session.

USD/CAD significant levels

As of writing the pair is up 0.04% at 1.3218 facing the next resistance at 1.3276 (high Sep.27) ahead of 1.3311 (38.2% Fibo of the 2016 drop) and finally 1.3575 (50% Fibo of the 2016 drop). On the other hand, a breach of 1.3211 (200-day sma) would open the door to 1.2996 (low Sep.22) and then 1.2818 (low Sep.7).