USDCAD is snapping back higher after a stronger jobs report. Buyers back in control ...Middle East

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USDCAD is snapping back higher after a stronger jobs report. Buyers back in control
source : forex live ( Middle East ) () 99
The USDCAD has been trending to the upside since bottoming on October 2 near 1.3472. The momentum over the last eight trading days has taken the price up to a high of 1.37826. That took the price to the low of the next swing area target between 1.3784 and 1.38036 (going back to April 2024 – see the red numbered circles on the chart below).Today, the Canadian jobs data came out stronger than expected, and the price of the USDCAD fell (higher CAD). The price did move back below the 61.8% retracement of the move down from the August high. That level comes in at 1.3745. However, the momentum could not be sustained, and the price has snapped back higher. Going forward, it would take a move back

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