In Canada, they had a marginally better employment number (Unemployment rate down to 7.2% from 7.3%, 29.3 full time jobs, -22K part time jobs). Nevertheless, the USDCAD has followed the dollars move higher. The price held the 100 hour MA on the downside in the excitement of the intiail reaction and move toward the next topside target at the 200 hour MA at the 1.0196 level. The 38.2% of the move down from the June 28th high comes in at the 1.0199 level which increases the areas importance. On the downside, look for support at 1.0160.
Yesterday the price fell below the key 200 day MA and 50% retracement of the move up from the April low. Those levels come in at the 1.0121 and 1.0113. A move back below this level should increase selling.
