"Trading the Nonfarm Payrolls report is always tricky because of all of the underlying components."
— Kathy Lien, BK Asset Management (based on investing.com)
Pair's Outlook
At the start of Friday's trading session it seemed that the Greenback will score more gains against the Loonie. However, in the afternoon those expectations were crushed by the fundamental data releases on both sides of the of the currency pair. US data came in weaker, while Canadian data sets were better than expected. As a result the pair has fallen below the combined resistance of the monthly PP and the 20-day SMA near the 1.3370 mark. Due to that reason it can be expected that the pair might fall down to the weekly PP, which is located at the 1.3337 level.
Traders' Sentiment
SWFX traders remains bearish on the pair, as 63% of open positions are short. Meanwhile, 53% of set up orders are to buy.
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