#USDCAD @ 1.34783 US payroll rise by 253,000 against 179,000 expected. (Pivot Orderbook analysis)
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- US payroll rise by 253,000 against 179,000 expected.
- Canadian Unemployment Rate remains at 5%.
- USD/CAD steady near 1.3500, at weekly lows.
The pair currently trades last at 1.34783.
The previous day high was 1.3633 while the previous day low was 1.3519. The daily 38.2% Fib levels comes at 1.3563, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.3589, expected to provide resistance.
The USD/CAD held relatively steady, trading near the weekly low near 1.3480 following the release of labor market data in Canada and the US. While US Non-farm Payroll (NFP) figures showed positive results, they were balanced out by an equally positive report from Canada.
In April, the US economy added 253,000 jobs, surpassing the expected 179,000. Additionally, the Unemployment Rate decreased to 3.4%, below the expected 3.5%. However, the March payrolls were revised downwards from 236,000 to 165,000.
In Canada, the Unemployment Rate remained steady at 5%, slightly better than the market consensus of 5.1%. The Net Change in Employment was 41,400, surpassing the expected 20,000.
After the release of the NFP, the US Dollar appreciated against most currencies, but the Canadian Dollar outperformed due to the positive Canadian numbers.
The USD/CAD initially rose to 1.3507 before turning downwards and falling below 1.3490. The pair is currently trading near at its lowest levels in two weeks, looking at the 1.3475/80 support.
Technical Levels: Supports and Resistances
USDCAD currently trading at 1.3487 at the time of writing. Pair opened at 1.3539 and is trading with a change of -0.38 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.3487 |
| 1 | Today Daily Change | -0.0052 |
| 2 | Today Daily Change % | -0.3800 |
| 3 | Today daily open | 1.3539 |
The pair is trading below its 20 Daily moving average @ 1.3509, below its 50 Daily moving average @ 1.359 , below its 100 Daily moving average @ 1.3527 and above its 200 Daily moving average @ 1.3444
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.3509 |
| 1 | Daily SMA50 | 1.3590 |
| 2 | Daily SMA100 | 1.3527 |
| 3 | Daily SMA200 | 1.3444 |
The previous day high was 1.3633 while the previous day low was 1.3519. The daily 38.2% Fib levels comes at 1.3563, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.3589, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.3495, 1.345, 1.3381
- Pivot resistance is noted at 1.3608, 1.3677, 1.3722
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.3633 |
| Previous Daily Low | 1.3519 |
| Previous Weekly High | 1.3668 |
| Previous Weekly Low | 1.3523 |
| Previous Monthly High | 1.3668 |
| Previous Monthly Low | 1.3301 |
| Daily Fibonacci 38.2% | 1.3563 |
| Daily Fibonacci 61.8% | 1.3589 |
| Daily Pivot Point S1 | 1.3495 |
| Daily Pivot Point S2 | 1.3450 |
| Daily Pivot Point S3 | 1.3381 |
| Daily Pivot Point R1 | 1.3608 |
| Daily Pivot Point R2 | 1.3677 |
| Daily Pivot Point R3 | 1.3722 |
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