FxWirePro: USD/CAD reverses course bias back to downside

• USD/CAD declined on Friday as     higher commodities price supported Canadian dollar  despite mixed domestic employment data.

• Gold rebounded on Friday, it was poised for a weekly gain, aided by bargain-hunting and a slightly weaker U.S. dollar.

• Meanwhile, Spot silver jumped 6.3 percent to $75.70 an ounce, bouncing back from an earlier dip below $65.

• Canada unexpectedly lost 24,800 jobs in January, but the losses were all part-time, and the unemployment rate dipped to a 16-month low of 6.5% as fewer people looked for work.

• Oil prices were mixed on Friday as markets reacted to U.S.–Iran talks in Oman, with traders watching for any signs that tensions could escalate into a supply‑disrupting Middle East conflict.

•  Immediate resistance is located at 1.3740(SMA 9), any close above will push the pair towards 1.3786(38.2%fib).

• Support is seen at 1.3651(38.2%fib) and break below could take the pair towards 1.3493( 23.6%fib).

Recommendation: Good to sell around 1.3700, with stop loss of 1.3850 and target price of 1.3650