- USD / CAD is fluctuating in a tight range below 1.2800 on Monday.
- WTI is trading at its highest level in over a year above $ 57.
- The US Dollar Index remains in positive territory above 91.00.
The pair USD / CAD it fell sharply on Friday and closed the week practically unchanged. On Monday, the pair is struggling to make a decisive move in either direction and was last seen posting modest daily gains at 1.2772.
DXY rises after Friday’s crash
Canadian Jobs revealed on Friday that the Unemployment Rate rose to 9.4% with the Net Change in Employment hitting -212,000 in January. However, despite the disappointing data, selling pressure surrounding the dollar and rising crude oil prices sent the USD / CAD lower ahead of the week.
After the U.S. Bureau of Labor Statistics reported that January Non-Farm Payrolls (NFPs) increased by 49,000 in January after the December drop of 227,000 (revised from 140,000), the U.S. dollar index ( DXY) turned south and lost more than 0.5%.
In the absence of major macroeconomic data releases, the DXY is making a technical correction, rising 0.15% to 91.18.
Meanwhile, the West Texas Intermediate (WTI) barrel closed every day in positive territory last week and extended its rally to a sixth day in a row on Monday, helping the commodity-related Canadian dollar to remain resilient against the dollar. At the moment, WTI is trading at its highest level in more than a year at $ 57.50.
Technical levels
USD / CAD
| Panorama | |
|---|---|
| Today’s Last Price | 1.2776 |
| Today’s Daily Change | 0.0011 |
| Today’s Daily Change% | 0.09 |
| Today’s Daily Opening | 1.2765 |
| Trends | |
|---|---|
| SMA of 20 Daily | 1.2746 |
| SMA of 50 Daily | 1.2775 |
| SMA of 100 Daily | 1.2977 |
| 200 SMA Daily | 1.3238 |
| Levels | |
|---|---|
| Daily Preview Maximum | 1.2833 |
| Daily Previous Minimum | 1.2763 |
| Weekly Preview Maximum | 1.287 |
| Weekly Prior Minimum | 1.2762 |
| Monthly Previous Maximum | 1.2881 |
| Minimum Previous Monthly | 1.259 |
| Daily Fibonacci 38.2% | 1.2789 |
| Fibonacci Daily 61.8% | 1.2806 |
| Daily Pivot Point S1 | 1.2741 |
| Daily Pivot Point S2 | 1.2717 |
| Daily Pivot Point S3 | 1.2671 |
| Daily Pivot Point R1 | 1.2811 |
| Daily Pivot Point R2 | 1.2857 |
| Daily Pivot Point R3 | 1.2881 |
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