7 Aug 2015
USD/CAD consolidates above 1.3100
FXStreet (Edinburgh) - The greenback is posting decent gains vs. its Canadian counterpart on Friday, taking USD/CAD to the 1.3120/25 band so far.
USD/CAD focus on US, CAD data
The pair is extending its overnight consolidative range in the low-1.3100s against a backdrop of the usual lack of volatility ahead of US Payrolls and critical Canadian data. After hitting recent fresh cycle highs above 1.3200 the figure, spot started a correction lower although the 1.3100 neighbourhood seems to be quite a decent support so far.
Market consensus expects the US economy to have added 223K jobs during last month, while Canadian employment is seen increasing by almost 10K during the same period.
USD/CAD relevant levels
At the moment the pair is advancing 0.08% at 1.3120 with the next resistance at 1.3199 (high Aug.5) ahead of 1.3215 (2015 high Aug.5) and finally 1.3344 (monthly high July 2004). On the other hand, a breach of 1.3103 (low Aug.4) would open the door to 1.2940 (low Jul.31) and then 1.2955 (low Jul.30).
USD/CAD focus on US, CAD data
The pair is extending its overnight consolidative range in the low-1.3100s against a backdrop of the usual lack of volatility ahead of US Payrolls and critical Canadian data. After hitting recent fresh cycle highs above 1.3200 the figure, spot started a correction lower although the 1.3100 neighbourhood seems to be quite a decent support so far.
Market consensus expects the US economy to have added 223K jobs during last month, while Canadian employment is seen increasing by almost 10K during the same period.
USD/CAD relevant levels
At the moment the pair is advancing 0.08% at 1.3120 with the next resistance at 1.3199 (high Aug.5) ahead of 1.3215 (2015 high Aug.5) and finally 1.3344 (monthly high July 2004). On the other hand, a breach of 1.3103 (low Aug.4) would open the door to 1.2940 (low Jul.31) and then 1.2955 (low Jul.30).