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USD/CAD capped by 1.1190

FXStreet (Edinburgh) - It seems the greenback is resuming its recent upside, now lifting USD/CAD to the vicinity of 1.1190.

USD/CAD focus on Payrolls

The pair would be poised for further upside, as the Canadian trade surplus is expected to shrink to $1.55 billion during August and US Non farm Payrolls is expected at 215K, surpassing August’s 142K, all giving extra wings to the US dollar. In the opinion of Shaun Osborne, Chief FX Strategist at TD Securities, “we see short term resistance at 1.1205/10 this morning and a little more softness likely again below 1.1160/65”.

USD/CAD levels to consider

As of wiritgn the pair is up 0.27% at 1.1187 and a surpass of 1.1200 (psychological level) would open the door to 1.1223 (high Oct.1). On the downside, the initial support aligns at 1.1156 (low Oct.3) followed by 1.1105 (Tenkan Sen) and finally 1.1071 (low Oct.2).

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