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USD/CAD in mid-range ahead of Canadian jobs report later today

An update here yesterday noted the prospect of the USD/CAD setting in place a major double top on the daily charts, at 1.3959. It was also noted; that would be confirmed if the pair fell below 1.3822. Well, since then the price action has been covered by 1.3842 (the low late last night) and 1.3900, reached a short while ago this morning. It has since dropped back towards 1.3880. So, if we take the mid-point of that outlined range (1.3822-1.3959) it comes in at 1.3890. That is pretty much where the USD/CAD is at the time of writing. At 1.30pm GMT today we get the latest Canadian October monthly jobs report. The markets are not expecting a particularly upbeat report. The forecast is for unemployment to rise to 6.6% from 6.5%. Payrolls are forecast to rise by 27k, where they increased by 46.7k in September. Quite simply, this jobs data could decide, if the USD/CAD breaks either side of that 1.3822-1.3959 range. All to be revealed at 1.30pm GMT, but Quick News will not be on hand to update you, so if you are involved in the USD/CAD today, then please be mindful of that. The USD/CAD is currently trading at 1.3886 

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