FxWirePro: USD/CAD extends gains, eyes 1.4000 level

• USD/CAD strengthened on Friday   as investors digested   Canadian  and U.S. employment data  .

• Canada created just 8,200 new jobs in December after three months of outsize gains and the unemployment rate rose to 6.8% from 6.5% as more people searched for work..

• Meanwhile, U.S. job growth slowed more than expected in December, but a decline in the unemployment rate to 4.4% bolstered investors' expectations that the Federal Reserve will hold interest rates in its next policy meeting.

• Nonfarm payrolls increased by 50,000 jobs last month after a downwardly revised rise of 56,000 in November, the Labor Department's Bureau of Labor Statistics said.

•  Immediate resistance is located at 1.3925(Higher BB), any close above will push the pair towards 1.3991(38.2%fib).

• Support is seen at 1.3895(50%fib) and break below could take the pair towards 1.3861(Daily low).

Recommendation: Good to buy  around 1.3900, with stop loss of 1.3820 and target price of 1.4000