• USD/CAD rose sharply on Thursday as stronger greenback and lower oil prices weighed on commodity linked Canadian dollar.
• Fed Chair Jerome Powell gave no new policy cues in his latest remarks, leaving investors to lean on existing data for direction.
• Crude prices eased on Thursday following the announcement of a ceasefire deal between Israel and Hamas in Gaza.
• Market attention now pivots to Friday's Canadian employment report, which will provide crucial insights into the country's economic health and likely influence the Bank of Canada's upcoming monetary policy decision.Bottom of Form
• Immediate resistance is located at 1.4046(Higher BB), any close above will push the pair towards 1.4088 (23.6%fib).
• Support is seen at 1.3939(38.2%fib) and break below could take the pair towards 1.3907( 50%fib).
Recommendation: Good to buy around 1.4000, with stop loss of 1.3920 and target price of 1.4100
