A simultaneous release of US and Canadian jobs data is making today's early afternoon a very interesting one for USDCAD traders. Some short-term volatility on the USD market is likely to be present, especially if headline NFP data shows a big miss.
When looking technically at the USDCAD chart on the H4 interval, the pair is moving upward recently. Currently, it is worth paying attention to the resistance zone around 1.3070, which managed to fend off buyers several times. Should a break higher occur, upward move may accelerate towards Fibonacci's external measures: 127.2% and 161.8%. The zone at 1.2958, marked with a lower limit of the 1:1 structure, acts as the short-term support.
USDCAD, H4 interval. Source: xStation5
NFP: A turning point for the dollar and the start of a stock market correction?
📉 EURUSD loses amid strong US NFP report
Market Wrap: SAP bucks tech sell-off, SpaceX blocked from S&P 500 entry (05.06.2026)
Chart of the Day: Euro Has Lost Its Edge. Will NFP Tip the Scales in Favor of the Dollar?