USD/CAD after a strongly bearish session on the Daily Chart

usd_cad_news_prognozUSD/CAD (current price: 1.3097)    

The Canadian Employment Report was a positive surprise on Friday. Employment in the country grew by 48,300 compared to an expected decline of -10,100. The Unemployment Rate edged unexpectedly lower to 6.8%. The bullish numbers helped the Canadian Dollar in the second half of the session, while the surge in crude oil also pushed the pair lower. The cross continues to trade just above the psychologically important 1.30 level following a volatile month.

Our assessment: The pair remains inside a neutral long-term trading range between 1.2850 and 1.3550. The short-term trend is also neutral with strong resistance above the current rate at 1.3175.

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