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Forex: USD/CAD tumbles to session lows at 1.0058/64 after US jobless claims

FXstreet.com (Barcelona) - The USD/CAD has edged lower to session minimums at 1.0058/64 during US trading Thursday. Following the release of US data, the pair is now fully entrenched in negative territory, -0.21% off its opening.

Mataf.net analysts point to supportive means for the USD/CAD at 1.0052, ahead of 1.0027, and ultimately 1.0003. Conversely, a break above 1.0101 will initiate resistance at 1.0125 and 1.150.

According to the Technical Analyst Team “The downside push for the USD/CAD was halted by oversold signals on the pair as shown on the stochastic. Trading below 1.0140 keeps the negativity valid.”

In the United States, Initial Jobless Claims (April 26) came in at 324K, compared with a projection of 345K. Moreover, the Trade Balance (March) was reported at $-38.8B, vs. a consensus of $-42.0B.

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