USD/CAD

• USD/CAD drops in NY as Dollar returns to weakness.
• CAD Unemployment coming up on Friday.

USD/CAD ended New York down, and is currently consolidating in the Asia session just underneath the 1.2500 major handle. The US Dollar has appreciated over the Loonie in recent days as global equities have shaken off of their record highs amidst a sudden bout of risk aversion, but the still-spongey USD has a lot of work cut out for it after declining against the CAD for two years.

Canada will be releasing their Unemployment Rate figures along with the Labour Participation Rate, both due Friday at 13:30 GMT.

USD/CAD Technicals

Intraday swing support currently sits at 1.2490 with resistance at 1.2507, while Daily charts still show a strong downtrend in place, with price trading into the 34 EMA at 1.2485, and price still well below the 200-day SMA.

Today's pivot points:
R2: 1.2592
R1: 1.2541
PP: 1.2515
S1: 1.2464
S2: 1.2438