• USD/CAD moved lower on Thursday as broad-based US dollar weakness persisted amid lingering doubts over the US–Iran ceasefire.
• The dollar extended the previous session’s losses against major peers, after safe-haven demand had supported it in recent weeks.
• Despite the truce, concerns remain that energy flows through the Strait of Hormuz could stay disrupted.
•On the data front, Canada’s March employment report due Friday is in focus, with forecasts pointing to a 15,000 job gain after a sharp 84,000 decline in February.
• Immediate resistance is located at 1.3875(38.2%fib), any close above will push the pair towards 1.3907(April 8th high).
• Support is seen at 1.3801 (50%fib) and break below could take the pair towards 1.3725 (61.8%fib).
Recommendation: Good to sell around 1.3820, with stop loss of 1.3870 and target price of 1.3760
