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USD/CAD keeps the tight range near 1.3240

FXStreet (Edinburgh) - The Canadian dollar is extending its upbeat momentum vs. its American peer on Friday, with USD/CAD in a consolidative pattern near 1.3240.

USD/CAD focus on US Payrolls

After hitting fresh 11-year tops around 1.3460 on Wednesday, the pair has given away more than two big-figures as CAD keeps deriving support from the recent recovery in crude oil prices.

Spot will remain under pressure however, in light of the upcoming US Non-farm Payrolls due later. Prior surveys expect the domestic economy to have created 203K jobs during September vs. August’s 173K jobs.

USD/CAD levels to consider

At the moment the pair is now retreating 0.25% at 1.3234 facing the next support at 1.3176 (low Sep.21) ahead of 1.3160 (low Sep.16) and finally 1.3012 (low Sep.18). On the other hand, a break above 1.3271 (high Oct.2) would aim for 1.3334 (high Oct.1) and then 1.3412 (high Sep.30).

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