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USDCAD Ahead Of Employment Report

CANADA
  • USDCAD trades at 1.3482 (+0.2%) as it steps closer to overnight highs of 1.349, with CAD outperforming Antipodeans and SEK but otherwise lagging.
  • Technical levels: the pair has moved further off support at 1.3404 (76.4% retrace of Feb 2 – Mar 10 rally) whilst resistance remains at 1.3537 (Apr 3 high) and then the 50-day EMA of 1.3574.
  • Significant option expiry at nearby strikes for today’s cut could help bolster these technical levels: 1.3430 (913mln), 1.3435 (1.02bn), 1.3455 (2.02bn), 1.3480 (423mln), 1.3500 (1.19bn)

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