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USDCAD falls after better than expected employment

Discussion in 'Technical Analysis' started by ForexLive, Apr 8, 2016.

  1. ForexLive

    ForexLive Forum Member

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    No competition from US on their unemployment day. Strong job growth. Lower employment rate. The better than expected Canadian employment data has sent the USDCAD tumbling lower. The move lower has taken the pair toward the series of swing lows going back to last Friday , and also to the underside of the broken trendline (see hourly chart below). That support comes in around the 1.3000 level. Needless to say a break and run will now be eyed.

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