Skip to content 
Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.23585 with take profit at 1.23679.
Bearish Preference:
Sell position is envisaged if price trades below 1.23396 with take profit at 1.23328.
Fundamentals:
No Major Fundamentals
Comment: Even if there are good jobs data, there is still a long way to go before the US reaches ‘full employment’ as experienced pre-pandemic, which According to the Atlanta Fed Jobs Growth Calculator, the US economy needs +740K jobs growth per month over the next 12-months in order to return to the pre-pandemic US labour market of a 3.5% unemployment rate (U3) with a 63.4% labour force participation rate. This is a show that there is going to be a weaker USD for the week, but for now, USD is trading higher than CAD.
Analysis: SCRUM Team
