2020-08-10 16:27
Market analysisUSD/CAD Outlook (10 August 2020)
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Market analysis：
Overall, USD/CAD is trending downwards. Recently, USD/CAD broke the resistance zone of 1.33500 after the release of the positive U.S. and Canadian jobs report.
The Canadian employment data released last Friday indicated continued recovery in the Canadian jobs market. More jobs have been added in July than forecasted while unemployment rate declined faster than forecasted.
-Employment Change (Actual: 418.5K, Forecast: 395K, Previous: 952.9K)
-Unemployment Rate (Actual: 10.9%, Forecast: 11.1%, Previous: 12.3%)
Currently, USD/CAD is moving towards the support zone of 1.33500 and the next resistance zone is at 1.35100.
Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.33500.
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USD/CAD Outlook (10 August 2020)
Singapore | 2020-08-10 16:27Overall, USD/CAD is trending downwards. Recently, USD/CAD broke the resistance zone of 1.33500 after the release of the positive U.S. and Canadian jobs report.
The Canadian employment data released last Friday indicated continued recovery in the Canadian jobs market. More jobs have been added in July than forecasted while unemployment rate declined faster than forecasted.
-Employment Change (Actual: 418.5K, Forecast: 395K, Previous: 952.9K)
-Unemployment Rate (Actual: 10.9%, Forecast: 11.1%, Previous: 12.3%)
Currently, USD/CAD is moving towards the support zone of 1.33500 and the next resistance zone is at 1.35100.
Look for short-term buying opportunities of USD/CAD if it bounces off the support zone of 1.33500.
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