USDCAD falls over 150 pips on weak US and upbeat Canada jobs data
USDCAD fell to the lowest levels since late Sep 2017, on over 150-pips bearish acceleration after US / Canada jobs data.
The greenback came under pressure on US NFP data miss while upbeat Canada employment figures (78.6K new jobs created in December vs 1K f/c) strongly boosted the loonie.
Fresh bearish acceleration today is seen as extension of bear-leg from triple-top at 1.2915 zone, which broke below significant support at 1.2387 (Fibo 61.8% of 1.2061/1.2916 ascend and is expected to confirm strong bearish signal on daily close below 1.2387.
Extension of bear-leg from 1.2915 lower platform below 1.2387 pivot would open way for full retracement of 1.2061/1.2916 corrective phase in the coming sessions.
Meanwhile, bears may take a breather on oversold daily studies, with extended corrective upticks expected to stay capped under daily cloud base (currently at 1.2555).
Res: 1.2432; 1.2488; 1.2513; 1.2555
Sup: 1.2355; 1.2300; 1.2263; 1.2194