Technical analysis of USD/CAD for June 08, 2018 888011000 110888 USD/CAD is anticipated to trade with a bullish outlook. Despite the recent pullback from 1.3030, the set is still trading above its increasing 50-period moving average. The relative strength index does not have down momentum. Toconclude, as long as 1.2940 is not broken, search for a rebound to 1.3020. A break above this level would activate a brand-new upleg to 1.3065 in extension.Fundamental Summary: Today’s information reveals that Canada unexpectedly shed tasks in Might, while the unemployment rate remained the same at a decade-plus low and per hour salaries rose at their fastest rate in over nine years. Work in Canada fell somewhat in Might, down a net 7,500 tasks on a seasonally changed basis.This is the 2nd straight month of job losses, after work decreased by a net 1,100 positions in the previous month. Market expectations were set at a 23,500 advance in employment in Might, inning accordance with financial experts at Royal Bank of Canada. The joblessness rate held steady at 5.8%,or the most affordable level because October 2007. When utilizing U.S. Labor Department approach, Canada’s jobless rate in Might was 4.8%. Chart Description: The black line shows the pivot point. Presently, the rate is above the pivot point which is a signal for long positions. If it stays listed below the pivot point, it will indicate short positions. The red lines show the assistance levels,while the green line shows the resistance levels. These levels can be used to get in and leave trades. Resistance levels: 1.3020, 1.3065, 1.3095 Support levels: 1.2940, 1.2920, 1.2890 The material has been provided by InstaForex

By | June 8, 2018

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