• USD/CAD consolidated around on Monday as investors also monitored election developments for the upcoming U.S. presidential election. .
• The election for U.S. president is expected to be close.Vice President Kamala Harris, a Democrat, was leading Republican Donald Trump nationally by a marginal 46% to 43%, a recent poll showed.
•Looking Ahead , U.S. September JOLTS and PCE, Q3 GDP, October ADP and non-farm payrolls, weekly jobless claims as well as October ISM manufacturing reports are due this week.
• Technical highlight upside risks for USD/CAD, with momentum studies, 5, 10 and 11 DMAs tracking north.
• Immediate resistance is located at 1.3907(23.6%fib), any close above will push the pair towards 1.3966(Higher BB).
• Support is seen at 1.3881(Daily low) and break below could take the pair towards 1.3828(38.2%fib).
Recommendation: Good to buy around 1.3900, with stop loss of 1.3800 and target price of 1.3980
