Total 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.
Intraday 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.