USD/CAD has taken support near 1.25075 (20 day 4HMA) and slightly recovered till 1.2610 from that level. Overall trend is bullish as long as support 1.2500 holds.
Canadian job market are expected to shed 500 jobs compared to 1000 in previous week. The unemployment rate is expected to be at 6.9% compared to 6.8%.
On the downside any break below 1.2500 will take the pair further down till 1.2480/1.2420.
The pair’s minor resistance is around 1.2620 and any break above would extend gains till 1.2650/ /1.27080 in short term.
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) – Buy
CCI (14) - Buy
Recommendation: Buy USD/CAD around 1.2560, SL 1.2500, Target 1.2700.
Canadian job market are expected to shed 500 jobs compared to 1000 in previous week. The unemployment rate is expected to be at 6.9% compared to 6.8%.
On the downside any break below 1.2500 will take the pair further down till 1.2480/1.2420.
The pair’s minor resistance is around 1.2620 and any break above would extend gains till 1.2650/ /1.27080 in short term.
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) – Buy
CCI (14) - Buy
Recommendation: Buy USD/CAD around 1.2560, SL 1.2500, Target 1.2700.