Net change better at +43.9K but gains in part time workers. Full time workers down -23.1K
The USDCAD whipped around after the US and Canadian employment reports. The US employment report showed good job gains with the revisions. The number is strong enough for the Feds expected tightening to take place in December (dependent on election reactions though). The Canadian report showed that net change in employment was strong again at 43.9 but the gains were all part time.
So for the pair the price moved lower, than shot higher
On the fall, the pair move to the 200 hour MA at the 1.3382 and found support buyers. On the move back higher the price moved above the recent highs and traded at the highest level since March 3rd, but has since backed off and trades back below the recent peak from last Friday at 1.3432.
If the price is to go higher, above recent highs and staying above will be eyed.
If the price is to go lower, the 100 hour MA at 1.3393 and the 200 hour MA (and trend line) at 1.33825 are support levels that need to be broken (and remained broken - no quick failures).
PS Mike points out that there are option expires at 1.3400 and 1.3425 in the USDCAD today. Still a few hours away from expiration.
PSS Oil - which has been under pressure of late with limited reaction from the USDCAD - is trading down toward $44.00 (low $44.06) and that is helping the USDCAD move higher today. Mike also point that reaction out HERE.