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Nov 05 - 01:55 PM

USD/CAD - Gain Fades After Canada Employment Rise

By Paul Spirgel  —  Nov 05 - 11:40 AM
  • USD/CAD's post-NFP gain reversed, pair flat on day; Fri range 1.2480-42

  • Oil and copper gains shrugged off as steady Fed, BoE temper BoC rate outlook

  • Canada unemployment rate slips to 6.7%, participation rate lwr nL1N2RW0Z2

  • USD/CAD shorts unwind, res firm by 200-DMA at 1.2481, then 100-DMA 1.2534

  • Momentum shifts to bulls abv 1.2593's 50% Fib of 1.2896-1.2289 Sep-Oct dip

  • Support at 10-DMA by 1.2396, 1.2305's rising lower 21-d Bolli, Oct 21 low by 1.2289

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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