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USD/CAD hits 3 week low around 1.33441 on account of better than expected Canadian employment data and rising oil prices. Canadian economy has added 9300 jobs in December month compared to forecast of 680. Crude oil prices has jumped nearly $8 from low of $50.14 on easing trade talks between US and China. It hits intraday high of $58.87 and is currently trading around $58.34.
On the lower side, near term major support is around 1.3300 and any violation below confirm further weakness and a dip till 1.3250/1.3150 is possible.
The near term major resistance is 1.3425 and any break above targets 1.3495/1.3520.
It is good to sell on rallies around 1.3400-05 with SL around 1.3500 for the TP of 1.3160.
