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FxWirePro: USD/CAD extends gains, faces 38.2%fib resistance

• USD/CAD strengthened on Friday after data showed that employers added more jobs than expected in September . • Nonfarm payrolls increased by 254,000 jobs last month after rising by an upwardly revised 159,000 in August…

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FxWirePro: USD/CAD extends gains, faces 38.2%fib resistance
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• USD/CAD strengthened on Friday  after data showed that employers added more jobs than expected in September .

• Nonfarm payrolls increased by 254,000 jobs last month after rising by an upwardly revised 159,000 in August.  

• Economists polled   had forecast payrolls rising by 140,000 positions after advancing by a previously reported 142,000 in August.

•At GMT 16:01 The dollar was trading up 0.18 % to 1.3579 to the Canadian dollar  after the data.
 
•  Immediate resistance is located at 1.3596(38.2%fib), any close above will push the pair towards 1.3637 (23.6%fib).

• Support is seen at 1.3563(50%fib) and break below could take the pair towards 1.3523(61.8%fib).

Recommendation: Good to buy  around 1.3580, with stop loss of 1.3500 and target price of 1.3650

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