USD/CAD downward correction from the 2-week high, NFP in focus

FXStreet – The USD/CAD has been a part of his initial profits made, so that there is a 20-Pips correction from the 2-week high which has with the European trade was formed.

The cops failed because the profits about the center of the 1,3500 to expand, while it comes to a slight recovery of Oil prices, currencies, commodity as the Loonie supported. Add to this the correction in the US Treasury bond yields, the USD has no support and it comes to a Retracement of the pair of High.

The traders build their positions before the important US NFP , which will be published shortly. From Canada, there will be the trade balance, which speaks in a volatile session.

Important Levels

Below 1,3510-1,3500, the next supports lie at 1,3460-55 and price will be 1.3430-25. On the other hand, Resistances are seen at 1.3550, 1.3600 for and 1,3645-50.

** FXStreet News Editorial, FXStreet**

Leave a Reply