7 Jun 2013
USD/CAD recovery capped by 1.0230
FXstreet.com (Córdoba) - The US dollar strengthened versus most competitors in the wake of the US employment figures, with the main exception of the loonie, which benefited from strong domestic data.
USD/CAD fell to a fresh 3-week low of 1.0163 as Canada's job creation surpassed by over 6 times expectations, while the unemployment rate fell to 7.1% in May. However, the greenback managed to trim losses afterwards, although the bounce has been capped by the 1.0230 area.
At time of writing, USD/CAD is trading around 1.0220, down 0.4% on the day with next resistances seen at 1.0230 and 1.0285 (daily high), while supports line up at 1.0163/69 (daily low/100-day SMA) and 1.0150 (May 16 low).
USD/CAD fell to a fresh 3-week low of 1.0163 as Canada's job creation surpassed by over 6 times expectations, while the unemployment rate fell to 7.1% in May. However, the greenback managed to trim losses afterwards, although the bounce has been capped by the 1.0230 area.
At time of writing, USD/CAD is trading around 1.0220, down 0.4% on the day with next resistances seen at 1.0230 and 1.0285 (daily high), while supports line up at 1.0163/69 (daily low/100-day SMA) and 1.0150 (May 16 low).