Approaches 1.3100 level
The USDCAD is trading at new day lows after rising to the highest level since July 24th. The high reached 1.31702 before reversing back lower.
Technically, the price is approaching the 1.3100 level. Also below is the 38.2% at 1.30904 and the rising 100 hour MA at 1.30705. On Friday, that MA was tested after the headline employment gains showed higher numbers for jobs, but lower wages and the mix of jobs (gains were in part time jobs. Full time jobs fell), sent the sellers scrambling. On more weakness, look for buyers on dips to the MA on the first look.
On the topside, watch 1.3120-22 now as a close risk area. That was a swing high on Wednesday and near a high on Friday too (before the jobs data).
