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3 May 2013
Forex: USD/CAD trading positively at 1.0110/12 after NFP in US
FXstreet.com (Barcelona) - The USD/CAD tumbled off its European highs Friday (1.0134), having effectively pared its gains throughout the session. However, after the publication of economic statistics in the United States during US trading, the pair is installed at 1.0110/12 at the time of writing.
The Mataf.net technical analyst team highlights that the USD/CAD will encounter its next short-term resistances at 1.0122, followed by 1.0141, and 1.0173. Conversely, the pair is slated to face resistance at 1.0071, then 1.0039, and ultimately 1.0020.
According to the Technical Analyst Team “The downside push for the USD/CAD was halted by oversold signals on the pair as shown on the stochastic. Trading below 1.0140 keeps the negativity valid.”
In the United States, Nonfarm Payrolls (April) came in at 165K, vs. a projection of 145K, and compared to 88K previously. In addition, the Unemployment Rate (April) came in at 7.5%, against expectations of 7.6%.
The Mataf.net technical analyst team highlights that the USD/CAD will encounter its next short-term resistances at 1.0122, followed by 1.0141, and 1.0173. Conversely, the pair is slated to face resistance at 1.0071, then 1.0039, and ultimately 1.0020.
According to the Technical Analyst Team “The downside push for the USD/CAD was halted by oversold signals on the pair as shown on the stochastic. Trading below 1.0140 keeps the negativity valid.”
In the United States, Nonfarm Payrolls (April) came in at 165K, vs. a projection of 145K, and compared to 88K previously. In addition, the Unemployment Rate (April) came in at 7.5%, against expectations of 7.6%.