• The USD/CAD pair declined sharply on Friday after stronger-than-expected Canadian jobs data boosted chances of an interest rate increase by the Bank of Canada as soon as next week.
   
• Canada's economy added 45,300 jobs last month, topping the 10,000 gain forecast by economists. The unemployment rate dipped to 6.5 percent, even as more people were looking for work.
   
• Gains for the loonie came even as prices of oil, one of Canada's major exports, fell. Oil prices fell more than 2 percent on Friday after data showed U.S. production rose last week just as OPEC exports hit a 2017 high, casting doubt over efforts by producers to curb oversupply.
   
• The currency pair is trading around 1.2895 levels ,it is set to decline towards 1.2860 and 1.2800 in the short term.
   
• To the upside, the strong resistance can be seen at 1.2951, a break above will take the pair towards next resistance level at 1.2995.
   
• To the downside immediate support can be seen at 1.2859 levels, a break below will open the door towards next level at 1.2800.
  
  Resistance Levels
  
  R1: 1.2951 (50% Retracement level)
  
  R2: 1.2995 (Daily high)
  
  R3: 1.3348 (61.8% Retracement level)
  
  Support Levels
  
  S1: 1.2859 (38.2% Retracement level)
  
  S2: 1.2800 (Psychological levels)
  
  S3: 1.3741 (23.6% Retracement level)