USD/CAD fell to a low of 1.3766 from a high of 1.3862 following both the US Nonfarm Payrolls and the Canadian Employment report. The Canada jobs gain has doubled expectations which throw the rate pause sentiment into scrutiny while the US Unemployment Rate ticked high unexpectedly, adding fuel to the USD/CAD's bears engine.
The main disappointments come in the Unemployment Rate while average hourly earnings were a big disappointment also. The DXY US Dollar index fell to a low of 104.6660 after the data from 105.1620 ahead of the data.
The price is higher on the daily chart and could be due for a correction back into the prior resistance that meets a 50% mean reversion area.
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