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Forex: USD/CAD back below 1.0200

FXstreet.com (Barcelona) - The Canadian dollar is retracing ground lost to the greenback after the better-than-expected Ivey PMI in the domestic economy offset the poor employment data in the Canadian economy. Recall that the jobless rate up-ticked to 7.2% in March vs. 7.0% in the previous month, dragging the CAD to session lows against the greenback around 1.0240.

“Holding above 1.0185 relieves a lot of the near-term bear pressure on USD/CAD but we still rather think the market will be inclined to sell rallies overall for now. The short-term chart looks more neutral now than outright bullish. Still have a ways to go before the near-term patterns turn more USD-constructive”, suggested the research team at TD Securities.

At the moment, the cross is up 0.44% at 1.0175 with the next resistance at 1.0211 (MA21d) ahead of 1.0265 (high Mar.22) and finally 1.0285 (high Mar.19).
On the flip side, a breach of 1.0102 (low Feb.19) would aim to 1.0079 (Daily Cloud Base) and then 1.0055 (low Feb.18).

Forex: USD/CHF recovers the mark of 0.9327/28

The USD/CHF has recently bounced off a session low of 0.9313 during US trading Friday, having recovered slightly higher towards the 0.9327/28 mark. At this juncture the cross is still suffering a loss of -0.76% on the day, crashing through support at 0.9352.
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Forex Flash: USD reveals reactionary trend surrounding data releases – ANZ

The US dollar is showing early signs of responding differently to US data. Whether or not this is consistent with one’s view of the world, it is, for the time being, a reality. “For data that surprises to the upside, there seems to be a threshold between those data that are just ‘better than expected’ and those data that are ‘significantly better than expected’. Of course, the market is attempting to distinguish those data consistent with the FOMC’s current assessment of the labor market from those data that may challenge it.” notes the ANZ Research Team.
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