USDCAD Re-Tests 1.3400 as Canadian Jobs Data Disappoints

USDCAD Talking Points:

美元兑加元谈话要点：

- This morning‘s economic calendar brought the release of both US and Canadian jobs numbers for the month of March. US NFP’s printed at +196k versus the expectation of +170k-+180k. Canadian jobs, on the other hand, disappointed as Canada lost 7,200 jobs versus an expectation for a 6k gain.

- 今天上午的经济日历带来了3月份美国和加拿大就业数据的公布。美国非农就业数据为+ 196k，预期为+ 170k- + 180k。另一方面，加拿大的就业岗位令人失望，因为加拿大失去了7,200个工作岗位而不是预期增加6个工作岗位。

- USDCAD put in an initial move of strength as the pair tested the 1.3400 handle; but sellers soon followed to push prices back down to the pre-release range. This keeps prices in a symmetrical wedge pattern thats been building over the past month, following a bullish breakout from another symmetrical wedge in USDCAD that had built-in from January to March. USDCAD may have attractive potential for traders looking at strategies of USD-weakness given proximity to long-term resistance around the 1.3500-handle.

- 美元兑加元初步走强，因为该货币对测试了1.3400处理;但卖家很快就将价格推回到释放前的范围。这使得价格保持在过去一个月内建立的对称楔形格局，此前美元兑加元从1月到3月内置另一个对称的楔形突破。鉴于接近1.3500左右的长期阻力位，美元兑加元可能对交易者有吸引力的潜力，因为他们正在考虑美元疲软的策略。

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Do you want to see how retail traders are currently trading USDCAD？ Check out our IG Client Sentiment Indicator.

您想了解零售交易商目前如何交易美元兑加元吗？我们的IG客户情绪指标。

USDCAD Re-Buffed at 1.3400 After US, Canadian Jobs Release

美元兑加元在美国，加拿大就业岗位发布之后重新抛出1.3400

This morning brought the release of key employment data out of both the US and Canada for the month of March. In the US, Non-Farm Payrolls printed at +196k, a nice improvement from last months +20k print and a hair above the consensus expectation, which was running from around +170k to +180k. This brought an initial move of weakness in the US Dollar, but that may be dismissed by some traders as the currency was holding a key zone of resistance ahead of the release.

今天早上发布美国和加拿大3月份的主要就业数据。在美国，非农就业人数为+ 196k，与去年同期相比有了很大的改善+ 20k印刷，并且高于市场普遍预期，从大约+ 170k到+ 180k。这带来了美元疲软的初步走势，但由于货币在释放前持有一个关键的阻力区，这可能会被一些交易者所忽视。

But at the same time this morning Canadian jobs numbers were released, and this was a less rosy picture of economic health as the Canadian economy lost 7,200 jobs in the month of March versus an expectation for a gain of 6k.

但是在与此同时，今天早上加拿大就业数据被释放，这对加拿大经济的经济健康状况不那么乐观3月份失去了7,200个工作岗位而不是预期增加6个工作岗位。

The initial response in USDCAD was strength as CAD weakness was quickly priced-in. Prices in the pair ticked-up to the 1.3400 handle, at which point bulls pulled back and prices soon followed. The net of price action in the pair around the 8AM bar is a long-legged Doji; which could possibly keep the door open for short-term bearish strategies for traders comfortable trading within congestion.

美元兑加元的初步反应是强势，因为加元疲软很快被定价。该货币对中的价格上涨至1.3400，此时多头回落并且价格很快跟随。在8AM酒吧附近的价格行动净值是一个长腿的十字星;对于交易者在交通拥挤状态下交易的短期看跌策略，这可能会保持开放。

USDCAD Hourly Price Chart

USDCAD每小时价格走势图

Chart prepared by James Stanley

詹姆斯·斯坦利准备的图表

Taking a step back on the pair, and there‘s another symmetrical wedge formation that’s built just a month after breaking-above the prior symmetrical wedge. I had looked at bullish setups in the pair coming into March, basing strategy off of the Fibonacci level at 1.3132. Prices soon popped-higher, and buyers ran all the way into 1.3470 until that strength began to pullback. And now, for the past month, price action has been building deeper into another congestion formation.

退后一对，还有另一个对称的楔形结构，它是在破坏之前一个月建造的对称楔形。我曾看到3月进入看涨的区间，基于斐波那契水平1.3132。价格很快上涨，买家一直跑到1.3470，直到这种力量开始回落。而现在，在过去的一个月里，价格行动已经深入到另一个拥堵形成中。

USDCAD Eight-Hour Price Chart

USDCAD八小时价格图表

Chart prepared by James Stanley

图表由詹姆斯·斯坦利准备

Taking a further step back, and traders can start to get an idea as to why bulls have continually shown passive price action around re-approaches towards 1.3500. This is a major psychological level on the pair, and over the past three years, there have only been a few instances of prices in USDCAD testing above this level, each of which turned out badly for bulls. This is likely taking a toll on shorter-term themes as prices in the pair test above the 1.3400 level and buyers stare down a potentially key level of resistance just 100 pips-higher.

进一步退步，交易者可以开始了解为什么多头不断出现被动价格行动 - 接近1.3500。这是该货币对的一个主要心理水平，在过去三年中，只有少数美元兑加元测试的价格高于这个水平，每一个都对多头来说都很糟糕。这可能会对短期主题造成影响，因为该货币对中的价格测试高于1.3400水平且买家盯下潜力关键阻力水平只有100点 - 更高。

What Does This Mean？

这意味着什么？

If there‘s an additional reason for USDCAD bulls to shy away from the bid, that can make USDCAD as an attractive option for strategies of USD-weakness. The US Dollar is fast approaching its own level of key resistance around 97.70 on the chart: This is a level that’s turned around three different bullish themes over the past five months. If the US Dollar has another such instance in its future, the short-side of USDCAD can be very interesting. And for strategies around USD-strength, traders may simply want to look elsewhere as USDCAD may have an extra hurdle to clear given this penchant for resistance to show around the 1.3500 psychological level.

如果还有其他原因导致USDCAD多头避开收购，这可能使美元兑加元成为美元疲软策略的一个有吸引力的选择。美元在图表上快速接近其关键阻力位97.70左右：这是过去五个月中三个不同看涨主题的水平。如果美元在未来有另一个这样的例子，美元兑加元的空方可能非常有趣。而对于围绕美元走强的策略，交易者可能只是想在其他地方寻找，因为美元兑加元可能有一个额外的障碍需要明确，因为这种偏见显示在1.3500的心理水平附近。

USDCAD Weekly Price Chart

USDCAD每周价格表

Chart prepared by James Stanley

图表由James Stanley编写