Jobs in Canada are doing better. Jobs in the United States pay worse. USDCAD drops
The combination of a stronger Canadian employment report and a weaker US report causes USDDCAD to move lower (weaker dollar / higher CAD) as you might expect.
Looking at the daily chart, the price has fallen below its 200-day moving average at 1.25117, but still remains above its 100-day moving average at 1.24801.
The swing lows dating back to August are between 1.24739 and 1.24914. The low price has reached 1.2489 (so far) between these swing levels. The 50% increase from the June 1 low stands at 1.24772. So overall, the area between 1.24772 and 1.25117 remains a key target area for the pair. With the price between the levels, there is something for buyers down from the 1.24772 level and sellers against the 200 day moving average at 1.25117 (near risk).
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