USD/CAD declines below 1.2600

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At mid-day on Thursday, the US ADP Non-farm Employment data release caused a sell off of the US Dollar. On the USD/CAD the event resulted in a decline below the 1.2600 mark. On Friday morning, the rate fluctuated almost flat near the 1.2570 level.

If the pair resumes its decline, the USD/CAD could look for support in the 1.2550 mark. Further below take into account the 1.2500 mark and the weekly S3 simple pivot point at 1.2496.

Meanwhile, a recovery of the US Dollar against the Canadian Dollar might encounter resistance in the 1.2600 mark, the weekly S2 simple pivot point at 1.2607. Higher above, take into account the descending 50 and 100-hour simple moving averages near 1.2620 and 1.2640.
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