FxWirePro: USD/CAD maintains bullish bias with focus on 1.3200 levels
USD/CAD gathered momentum on Monday as the dollar was lifted by a stronger U.S. jobs report on Friday which saw investors price back in the chance of an increase in interest rates by the Federal Reserve before the end of…
USD/CAD gathered momentum on Monday as the dollar was lifted by a stronger U.S. jobs report on Friday which saw investors price back in the chance of an increase in interest rates by the Federal Reserve before the end of the year.
Data on Friday showed that U.S. employers added 287,000 jobs last month, far more than expected.
Currently, the pair is trading at 1.3091 levels, it is set to advance further towards 1.3150 and later 1.3200 levels in the short term.
Major support can be seen at 1.2950, a break below this level will expose the pair to next support level at 1.2900.
Immediate resistance can be seen at 1.3123, break above this level will expose it towards 1.3171 levels.
