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USDCAD has formed a minor bottom around 1.30375 and jumped more than 90 pips after dismal Canadian jobs data. US Non-Farm payroll data came better than the estimate which also the main reason for this pair to cross 1.3100 level. It hits an intraday high of 1.31058 and is currently trading around 1.31072.
|
US |
Actual |
Forecast |
Previous |
|
Non-Farm Employment Change |
224K |
162K |
75K |
|
Unemployment rate |
3.70% |
3.60% |
3.60% |
|
Average hourly earnings m/m |
0.20% |
0.30% |
0.20% |
|
Canada |
Actual |
Forecast |
Previous |
|
Employment Change |
-2200 |
10000 |
27700 |
|
Unemployment rate |
5.50% |
5.50% |
5.40% |
The near term resistance is around 1.31475-50 (300- H EMA) and any break above will take the pair to next level till 1.3185/1.3230. Minor trend reversal only above 1.3230.
On the flip side, near term support is at 1.30585 (20 H MA) and break below targets 1.3035/1.3000.
It is good to buy on dips around 1.30925-95 with SL around 1.30550 for the TP of 1.3230.
