USD/CAD sidelined below 1.3200, oil eyed

USD/CAD is alternating gains with losses on Monday, as market participants continue to digest another auspicious results from US Non-farm Payrolls (255K).

USD/CAD focus on oil, US data

The pair is trading in the vicinity of 1.3200 the figure after Friday’s sharp advance following the combination of solid results in the US labour market vs. a poor performance from Canadian jobs report.

However, further gains appear so far limited in light of the current recovery of crude oil prices, with the barrel of West Texas Intermediate approaching the $42.00 mark after bottoming out in fresh 4-month lows near $39.20 during last week.

Ahead in the session, the Fed’s Labor Market Conditions Index is only due for release.

USD/CAD significant levels

As of writing the pair is down 0.02% at 1.3173 and a break below 1.3085 (20-day sma) would open the door to 1.2993 (low Aug.4) and finally 1.2950 (100-day sma). On the other hand, the initial hurdle lines up at 1.3253 (high Jul.27) followed by 1.3315 (200-day sma) and then 1.3575 (50% Fibo of the 2016 down move).