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FxWirePro: USD/CAD loses momentum but bullish setup remains

• USD/CAD initially dipped but recovered ground  on Thursday   as investors digested US jobless claims data.

•  According to data,  the number of new claims for state unemployment benefits increased by 9,000 to a seasonally adjusted 224,000 for the week ended Nov. 30.

• Looking ahead,  markets will look to U.S. non-farm payrolls for further clues about the health of the world's largest economy.

• At GMT 19:06, the pair was down 0.11% at 1.4056, the pair hit daily low at  1.4014.

•  Immediate resistance is located at 1.4105(23.6%fib), any close above will push the pair towards 1.4134 (Higher BB).

• Support is seen at 1.4000(Psychological level) and break below could take the pair towards 1.3979(38.2%fib).

Recommendation: Be on sidelines

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