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USD/CAD volatile around 1.4100 on US NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - USD/CAD keeps the trade around 1.4100 the figure following US Non-farm Payrolls today...

    USD/CAD muted on US, CAD labor market

    The pair remains within the daily range following auspicious results from the US labour market data. In fact, the US economy has added 292K jobs during December, bettering expectations at 200K. Further data saw the unemployment rate staying at 5.0% during the same period, in line with prior surveys.

    In Canada, the employment has increased by 22.8K vs. 10K expected, while the jobless rate came in at 7.1%, matching previous estimates.

    USD/CAD key levels

    At the moment the pair is down 0.04% at 1.4090 facing the next resistance levels at 1.4166 (high Aug.22 2003) ahead of 1.4196 (high Jul.23 2003) and then 1.4672 (high Apr.24 2003). On the downside, a breach of 1.3628 (3-month uptrend) would target 1.3530 (55-day sma) and then 1.3373 (100-day sma).
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