FxWirePro: USD/CAD increased topside momentum brings 1.42 into focus

• USD/CAD firmed on Wednesday as robust US economic data supported the US  dollar across the board.

• U.S. services activity grew in October on stronger new orders, though weak employment highlighted ongoing labor market softness amid tariff-driven economic uncertainty.

• The ISM reported that its nonmanufacturing PMI increased to 52.4 in October, up from 50.0 in September.

• U.S. private payrolls rebounded in October, rising by 42,000 jobs following a revised 29,000 decline in September, according to the ADP National Employment Report.

• Private payrolls data is under close watch amid the U.S. government shutdown and persistent concerns over labor market weakness.

•  Immediate resistance is located at 1.4149(23.6%fib), any close above will push the pair towards 1.4212(23.6%fib).

• Support is seen at 1.4083(38.2%fb) and break below could take the pair towards 1.4020 (SMA 20).

Recommendation: Good to buy around 1.4110, with stop loss of 1.4000,  and target price of 1.4200