6 Mar 2015
USD/CAD knocks the 1.2600 door after a 160-pip run
FXStreet (San Francisco) - The USD/CAD is rallying post-NFP data as the pair jumped 160 pips from 1.2425 to break above 1.2550 and trade as high as 1.2595. Just shy of 1.2600.
The US Dollar is currently trading higher after the better than expected US employment report with 295K new nonfarm payrolls in February and an unemployment rate at 5.5%. However, participation rate fell to 62.8% from 62.9%, taking some shine off to unemployment rate.
Currently, USD/CAD is trading at 1.2575, up 0.57% on the day, having posted a daily high at 1.2595 and low at 1.2454. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/CAD levels
If the pair manages to break above 1.2600, it will find next resistances at 1.2620 and 1.2650. To the downside, USD/CAD has supports at 1.2550, 1.2520 and 1.2400.
The US Dollar is currently trading higher after the better than expected US employment report with 295K new nonfarm payrolls in February and an unemployment rate at 5.5%. However, participation rate fell to 62.8% from 62.9%, taking some shine off to unemployment rate.
Currently, USD/CAD is trading at 1.2575, up 0.57% on the day, having posted a daily high at 1.2595 and low at 1.2454. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
USD/CAD levels
If the pair manages to break above 1.2600, it will find next resistances at 1.2620 and 1.2650. To the downside, USD/CAD has supports at 1.2550, 1.2520 and 1.2400.