USD/CAD price falls below 1.2500, maintaining a bearish bias. US NFP came far too lower than expected, weighing heavily on the US dollar. The unemployment rate fell to 5.2% from the previous 5.4%. Recovering oil prices are further weighing on the pair. The USD/CAD pair analysis shows a bearish bias as the key 1.2500 level has been broken. Meanwhile, the US NFP figures missed expectations by a huge difference. –Are you interested to learn more about day trading brokers? Check our detailed guide- The USD/CAD pair moved sideways around 1.2545 during the first half of the day before experiencing strong bearish pressure. The pair fell at the lowest level since August 11, 1.2493, before rebounding modestly. A quick check of the quote shows the pair down 0.11% to 1.2537 as of writing. US Bureau of Labor Statistics data released Friday showed that nonfarm payrolls rose by 235,000 in August. By a wide margin, this value did not match the market forecast of 750,000 and caused a decline in US dollars. In response to initial reactions, the US dollar index fell below 92.00 for the first time in a month but managed to come back to the 92.20 level. Get FREE Forex Signals Now! In a positive development, the unemployment rate declined from 5.4% to 5.2%, while the workforce participation rate remained stable at 61.7% over the period. After losing some ground, crude oil prices are rising, which may support the commodity-linked Loonie. ISM will revise its August PMI report for further impetus later in the session. After the August employment report, US stock index futures lost most of their daily gains, suggesting that the dollar may benefit from prudent market sentiment in the afternoon. –Are you interested to learn more about forex signals? Check our detailed guide- USD/CAD price technical analysis: 200-SMA to cap gains USD/CAD 4-hour chart analysis The USD/CAD price broke the key 1.2500 level briefly and reversed the losses partially. The pair may test the support levels at 1.2487 ahead of 1.2425. The average daily range is at 71% so far. The pair lacks volatility today. The volume supports the downside for now. However, we can expect mild upside retracement. The price staying below the 200-period SMA on the 4-hour chart will retain the bearish pressure. On the upside, 1.2550 is the support turned resistance that may hamper the upside. The next resistance can be 1.2600 area. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next Litecoin Price Smashes The $200 Barrier (Up +8%)- How To Buy LTC? Nancy Lubale 1 year USD/CAD price falls below 1.2500, maintaining a bearish bias. US NFP came far too lower than expected, weighing heavily on the US dollar. The unemployment rate fell to 5.2% from the previous 5.4%. Recovering oil prices are further weighing on the pair. The USD/CAD pair analysis shows a bearish bias as the key 1.2500 level has been broken. Meanwhile, the US NFP figures missed expectations by a huge difference. –Are you interested to learn more about day trading brokers? Check our detailed guide- The USD/CAD pair moved sideways around 1.2545 during the first half of the day before experiencing strong… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.