Forex Special - The Greenback rose aggressively over 100 pips against the Greenback on Friday, weighed by an increase to 8% vs 7.9 previous in the Canada unemployment rate. The Net Change aettled at -9.3K, way below estimates. Current price sits at 1.0220, a 0.54% higher compared to its previous close.
As soon as the downbeat employment figures came out, the pair spiked up on a wild 65-70 pips move, reaching its highest peak at 1.0235, new 2-day high. Prior to the bullish storm, USD/CAD had found support at 1.0143, intra-day low.
Loonie is experiencing a harsh upside correction, after having rallied the USD for over 3 weeks, gaining almost 4% since all started in July 20. The slump in the USD touched its lowest level for 2 months at 1.0104 in yesterday's session.
USD/CAD (Aug 06 at 12:06 GMT)
1.0221/24 (0.54%)
H 1.0247 L 1.0144
1.0221/24 (0.54%)
H 1.0247 L 1.0144
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.0117 | 1.0142 | 1.0168 | 1.0183 | 1.0208 | 1.0233 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Aug 06 at 11:45 (15-minute timeframe) | |
[ View USD/CAD Technical Studies ]
