FXstreet.com (San Francisco) - The USD/CAD continues to push higher as dollar demand surges in a flight to safety following a slugging June unemployment report in the U.S.
The report showed the world’s biggest economy created only 80,000 jobs last month, its third straight disappointing monthly reading.
At the time of writing, the pairing has climbed to a fresh 5-year high of 1.0205, up 0.6% this Friday and poised to record a 0.3% gain this week. If the rally persists, resistance lies in the 1.0230 area, while support lies at 1.0165 (intraday).
The report showed the world’s biggest economy created only 80,000 jobs last month, its third straight disappointing monthly reading.
At the time of writing, the pairing has climbed to a fresh 5-year high of 1.0205, up 0.6% this Friday and poised to record a 0.3% gain this week. If the rally persists, resistance lies in the 1.0230 area, while support lies at 1.0165 (intraday).
