FXStreet (Edinburgh) – The greenback is now reverting its gains vs. the Canadian dollar, dragging USD/CAD to test the lower bound of the intraday range.
USD/CAD weaker by NFP results
The pair is giving away initial gains following the poor results from the US Payrolls during June, coming in at 223K vs. 230K forecasted; the jobless rate ticked lower to 5.3 vs. 5.5% anticipated.
Ahead in the session, US Factory Orders are due, with forecasts arguing for a monthly contraction of 0.5%.
USD/CAD key levels
At the moment the pair is losing 0.11% at 1.2574 and a breakdown of 1.2500 (psychological level) would open the door to 1.2487 (low Jul.1) and then 1.2362 (low Jun.30). On the other hand, the initial hurdle lies at 1.2635 (high Jul.2) ahead of 1.2646 (high Apr.13) and finally 1.2666 (high Apr.10).
(Market News Provided by FXstreet)