• USD/CAD rose above 1.3500 level on Thursday as US dollar gained on expectations the U.S. Federal Reserve will not rush to cut interest rates.
• Stronger-than-expected U.S. private payrolls data on Wednesday heightened expectations for a solid non-farm payrolls report on Friday, which could influence the pace of Fed policy easing
• The safe-haven U.S. dollar also saw heightened demand as tensions rose in the Middle East after Iran's ballistic missile strike on Israel, which led to a pledge of retaliation.
• At GMT 14:54 USD/CAD was trading 0.23% up at 1.3533 after hitting daily high at 1.3533
• Immediate resistance is located at 1.3551 (38.2%fib), any close above will push the pair towards 1.3586 ( Sep 23rd high)
• Strong support is seen at 1.3490 (50%fib) and break below could take the pair towards 1.3434(61.8%fib).
Recommendation: Good to buy around 1.3520, with stop loss of 1.3430 and target price of 1.3600