USD/CAD plummets to 1.3070 post-data

The Canadian dollar has sharply appreciated vs. its American peer on Friday, sending USD/CAD to fresh lows in the 1.3070 area.

USD/CAD weaker on data

The pair met increased selling pressure after Canadian jobs report surprised to the upside, showing the Employment Change rose by 48.3K and the jobless rate ticked lower to 6.8% vs. 6.9% initially forecasted. Additionally, the Participation Rate rose to 65.9%. 

In the US docket, Export Prices rose 0.1% MoM in January and Import Prices gained 0.4% MoM, beating expectations.

USD/CAD significant levels

As of writing the pair is losing 0.49% at 1.3081 facing the next support at 1.3016 (low Jan.17) and then 1.2967 (low Jan.31). On the other hand, a surpass of 1.3215 (high Feb.7) would aim for 1.3261 (55-day sma) and finally 1.3311 (38.2% Fibo of the 2016 drop).