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USD/CAD sinks below 1.32 on NFP

FXStreet (Edinburgh) - The greenback is now depreciating further vs. its Canadian neighbor, dragging USD/CAD to fresh daily lows.

USD/CAD softer on US data

Spot has extended the initial negative sentiment after US Non-farm Payrolls have surprised markets to the downside, coming in at 142K for the last month vs. consensus at 203K and the previous print at 136K (revised from 173K). Furthermore, US jobless rate has remained unchanged at 5.1% during the same period, in line with prior surveys.

Still in the US economy, Factory Orders are due later followed by the speech by FOMC’s S.Fischer.

USD/CAD levels to consider

At the moment the pair is now retreating 0.58% at 1.3190 and a breach of 1.3176 (low Sep.21) would open the door to 1.3160 (low Sep.16) and finally 1.3012 (low Sep.18). On the flip side, the next resistance aligns at 1.3334 (high Oct.1) ahead of 1.3412 (high Sep.30) and then1.3457 (high Sep.29).

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