• USD/CAD slipped lower on Monday as increased risk appetite and last week's stronger-than-expected Canadian jobs data continued support loonie.
• Canada's economy generated far more jobs than expected for a second straight month in October and the unemployment rate declined, data on Friday showed..
• Canada added 66,600 jobs in October, following 60,400 gains in September, offsetting most July and August losses, while the unemployment rate fell to 6.9% from 7.1%.
• Investors expect the Bank of Canada to keep policy unchanged next month after October’s rate cut to a three-year low of 2.25%, with about 11 basis points of further easing priced in by June.
• Immediate resistance is located at 1.4055(Daily high), any close above will push the pair towards 1.4121(23.6%fib).
• Support is seen at 1.4008(38.2%fb) and break below could take the pair towards 1.3932(Lower BB).
Recommendation: Good to sell around 1.4030, with stop loss of 1.4100 and target price of 1.3950
