EUR/CAD moves to session tops near 1.5250 post-CA jobs

• The cross pushes higher to daily highs near 1.5250.
• Support emerges in the mid-1.5100s, fresh multi-month lows.
• Canadian Employment Change dropped by 1.1K in April.

The Canadian Dollar is now depreciating further vs. the European currency, lifting EUR/CAD to the boundaries of 1.5250, or daily peaks.

EUR/CAD higher post-data

CAD gained extra downside pressure today after Canadian labour market report came in on the soft side in April.

In fact, Canadian Employment Change decreased by 1.1K jobs during last month vs. a forecasted build of 17.4K jobs and down from 32.3K jobs seen in March. In addition, the jobless rate stayed put at 5.8%.

In the meantime, the cross is looking to extend the rebound from yesterday’s 1.5150 area, levels last traded in mid-January, amidst a renewed bid tone in the single currency and a stronger Canadian Dollar following the rally in crude oil prices and positive performance of the commodity complex in general.

Later in the session, Deputy Governor Carolyn Wilkins is due to speak.

EUR/CAD levels to watch

As of writing the cross is gaining 0.25% at 1.5250 and a surpass of 1.5448 (high May 8) would expose 1.5484 (21-day sma) and finally 1.5516 (100-day sma). On the other hand, the immediate support is located at 1.5198 (200-day sma) followed by 1.5147 (low May 10) and then 1.4920 (monthly low Dec.6 2017).