Data on employment in the US and Canada. The Canadian rushed up

The US data:

• According to published data, the change in the number of employed in the non-agricultural sector of the US in December amounted to 148 thousand, which is lower than the previous value of 252 thousand.
• The change in the number of employed in the private non-agricultural sector amounted to 146 thousand, which is lower than the previous value at the level of 239 thousand.
• The unemployment rate remains at 4.1%.
• Average hourly wages rose by 0.3% in December, exceeding November’s level of 0.1%. On an annualized basis, the growth rate remains at 2.5%.

Canada data:

• The change in employment in Canada in December was 78.6 thousand, which is much higher than the forecast of analysts at the level of 27.9 thousand.
• The unemployment rate dropped from 5.9% to 5.7%, while analysts expected the growth rate to reach 6.0%.

Technical Analysis: Based on this statistics on the US and Canada, the pair USD/CAD fell sharply, losing more than 130 points positions. The main support levels at the moment are 1.2300; 1.2250.

Computer analysis: On the H4 chart, the Stochastic Oscillator movings indicate the oversold of the instrument. That is why, after this reduction, one should expect a correction in the price of the instrument, which is also indicated by the formation of the “Bull Divergence” in the MACD indicator on the H4 timeframe.

Fig. USD/CAD. The current price is $ 1.2372.

Alexander Sivtsov