USD/CAD topples out of the profit zone

FXStreet – the reaction of The currency pair USD/CAD on the disappointing fancy, non-farm Payrolls from the United States was initially limited. However, the downward movement in the last few hours, and also step the currency pair for the important psychological mark of 1.35. accelerated Blame it on recovering Oil prices, which is awarded to the canadian Dollar rise. The USD/CAD was quoted recently on 1,3487 and, therefore, 0.22 per cent in the Minus.

The US Dollar Index marked in early American business, the lowest level since November of 2016, after disappointing US economic data. The job growth in the US is down in September, much lower than analysts had expected. The number of jobs outside of agriculture increased in the past month to a population of 135,000. Analysts had expected an increase of 185,000. In addition, the increase in employment for April was revised to 174.000 Put down. Despite the disappointing record, the probability of a key interest rate remained increase at the meeting in June remains high. Nevertheless, the DXY is on the way to a week close below 97,00.

On the other hand, it was time for the US variety of West Texas Intermediate on 46,74 USD, the lowest level since 10. May. In the last hours a was, however, a counter-reaction, whereupon the demand for the commodity-related Loonie.

Chart Technical Outlook

Despite today’s return if the currency is expected to close couple for the first time in two weeks. On indicators based on the RSI tipped off again in the direction of the 30-point mark, the currency pair is likely to extend its negative momentum because of the thin trading volume. The next Resistances lie at 1.35 (psychological mark), 1,3525/30 (50-DMA / 50% Fibo Retracement) and 1.3600 for (psychological mark). Technical supports are at 1,3435 (Deep 31. May), 1,3355 (200-DMA) and 1,3300 (psychological mark).

** FXStreet News Editorial, FXStreet**

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