The USD/CAD pair got hit very hard during the session on Friday as the nonfarm payroll numbers came out weaker than anticipated. On top of that, Canadian employment numbers came out stronger than anticipated, so this of course made a bit of a “perfect storm.” However, you can see that the 1.04 level is a major decision point, and as a result it is interesting that we managed to stay just above it. With that being the case, we still are buying this pair, but we need to see a supportive candle in order to go ahead and do so again.
Written by FX Empire