non-farm payroll employment increased by 223,000 in June. The unemployment rate
declined to 5.3% as the US Bureau of Labor Statistics reported yesterday.
The unemployment rate declined by 0.2% to 5.3% in June. Traders eye weekend big event, the Greek referendum, and Thursday's FOMC meeting minutes.
We guess the coming week is going to be a busy week in the forex world.
The loonie is
trading higher against the greenback after weak job numbers. The
pair paused its 3-day rally at yesterday's session falling by 0.4%. It closed on the
lowest point of the day. Today, the pair opened lower on a bullish note. Bulls tried to close above 1.2600.
support is found at 1.2530, 1.2500, and 1.2480. The 20Wsma is found at 1.2400 and
weekly resistance is seen at 1.2646 and 1.2667. Bulls laid a strong base in
different layers initiated at 1.2200, later extended at 1.2300 and 1.2400. The hourly oscillators indicates overbought. We can observe higher
highs and higher lows in the daily and hourly charts. Selling is available below
1.2530. Selling accelerates are below 1.2470 towards 1.2400. Buying is available
above 1.2600 with targets at at 1.2620, 1.2640, and 1.2660.
The material has been provided by InstaForex Company – www.instaforex.com