The August Nonfarm Payrolls report came in at only 22K, far below expectations of 75K and the previous 79K, causing the USD to weaken. However, Canadian labor data was also underwhelming, leaving the CAD too weak to drag the pair significantly lower. As a result, USD/CAD has maintained balance and is moving within a narrow range.
On the H4 chart, the price is fluctuating around 1.38280, closely tracking the long-term descending trendline. The EMA34 and EMA89 are moving sideways, reflecting an accumulation phase. If support at 1.3787 holds, USD/CAD could rebound and push up towards 1.3833 before confirming the next trend direction.
On the H4 chart, the price is fluctuating around 1.38280, closely tracking the long-term descending trendline. The EMA34 and EMA89 are moving sideways, reflecting an accumulation phase. If support at 1.3787 holds, USD/CAD could rebound and push up towards 1.3833 before confirming the next trend direction.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
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🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.