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The USD/CAD Trades to Weekly Lows on Employment Data

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by , 04-09-2016 at 06:46 PM (1102 Views)
      
   
  • The USD/CAD Breaks Lower on Employment Data
  • Daily Price are Now Testing Weekly Lows

USD/CAD 30 Minute Chart

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The USD/CAD is trading lower this morning, after the release of better than expected employment data. CAD unemployment was expected at 7.3% and released at 7.1% As well. Data on net changes in employment also beat expectations at +40.6k. This news has caused the USD/CAD to breakout below this morning’s R4 pivot point at a price of 1.3053. Traders may find initial bearish targets for the day at 1.2964, by extrapolating 1X today’s 89 pip range.

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