• USD/CAD steadied around 1.3910 on Thursday as investors awaited domestic jobs data that could help guide expectations for an upcoming Bank of Canada interest rate decision.
• Canada's employment report due Friday is expected to show 10,000 jobs were added last month, while the unemployment rate is forecast to remain at 6.9%, its highest level since October..
• Investors expect the Bank of Canada to keep its benchmark interest rate unchanged at 2.25% for a fifth consecutive meeting next Wednesday, according to swap market data.
• Oil, a key Canadian export, fell 3.8% to $92.41 per barrel as hopes for an end to the U.S.-Israeli conflict with Iran raised expectations that the Strait of Hormuz could reopen.
• Immediate resistance is located at 1.3959(Higher BB), any close above will push the pair towards 1.4000(Psychological level).
• Support is seen at 1.3866(38.2%fib) and break below could take the pair towards 1.3800(SMA 20).
Recommendation: Good to buy around 1.3910, with stop loss of 1.3850 and target price of 1.3990
