FxWirePro: USD/CAD consolidating around 1.3425, bias is bullish
The USD/CAD pair inched higher in the US as Canadian dollar was pressured by the weak trend in the country's exports and lower oil prices, while a solid U.S. jobs gain supported the greenback. US nonfarm payrolls increas…
The USD/CAD pair inched higher in the US as Canadian dollar was pressured by the weak trend in the country's exports and lower oil prices, while a solid U.S. jobs gain supported the greenback.
US nonfarm payrolls increased by 161,000 jobs last month amid gains in construction, healthcare and professional and business services, the Labor Department said on Friday.
The currency pair is trading around 1.3425 levels ,it is set to advance further towards 1.3500 and 1.3530 in the short term.
To the upside, immediate resistance can be seen at 1.3447, a break above will take the pair towards next resistance level at 1.3500.
To the downside, strong support can be seen at 1.3404 levels, a break below will open the door towards next level at 1.3360.
