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USD/CAD Rallies on Soft Canadian Jobs Data

Canada added only 200 jobs to the economy in July, which drastically missed forecasts around 25.4K. This follows a loss of 9.4K jobs in June.  As you can see from the historic chart, employment change seems to be leveling out in the past few months. 
Employment flattening:

The unemployment rate dropped to 7.0% fro 7.1% due to a decline in those searching for jobs. 
The USD/CAD rallied immediately after the release, engulfing the previous sessions of consolidation price action. As price bounces off the 200-hour SMA and pushes above the 100-, and 50-hour SMAs, the USD/CAD is signaling bullish continuation.
USD/CAD Reaction:

(USD/CAD 1H Chart)

When you look at the daily chart, you can see that a break above this week's high of 1.0986 would open up April's highs around 1.1050.

(USD/CAD Daily Chart)

At this point, only a break below 1.09 should signal a shift away from the bullish trend into a consolidation mode.