• USD/CAD fell on Wednesday as broad U.S. dollar losses and supportive domestic data figures lent support to the Canadian dollar.
• The greenback weakened modestly against major currencies as improving prospects for peace with Iran curbed demand for the safe-haven U.S. dollar.
• Canada's trade surplus hit its highest level in four years in June, while the manufacturing sector expanded at the strongest pace in more than four years in July, according to data released Tuesday...
• Latest preliminary data indicates the economy expanded by an annualized 3.4% in the second quarter..
• Canada's employment report, due Friday, could provide fresh insight into the health of the economy, with analysts forecasting a gain of 15,000 jobs.
• Immediate resistance is located at 1.4066 (SMA 20), any close above will push the pair towards .4099(38.2%fib).
• Support is seen at 1.3989(50%fib) and break below could take the pair towards 1.3956(Lower BB).
Recommendation: Good to buy around 1.4000 with stop loss of 1.3940 and target price of 1.4100
