The USD/CAD pair declined on Friday as higher oil prices and stronger-than-expected Canadian jobs report strengthened the Canadian dollar against its U.S. counterpart. Canadian employers added a greater-than-expected 19,…
The USD/CAD pair declined on Friday as higher oil prices and stronger-than-expected Canadian jobs report strengthened the Canadian dollar against its U.S. counterpart.
Canadian employers added a greater-than-expected 19,400 jobs in March and the unemployment rate edged up to 6.7 percent as more people sought work, Statistics Canada said on Friday in a report that suggested Canada's economy has finally turned the corner.
Oil traded near a one-month high on Friday after the United States fired missiles at a Syrian government airbase, sending shockwaves through global markets and raising concerns that the conflict could spread in the oil-rich region.
The currency pair is trading around 1.3371 levels and it is set to decline further towards 1.3340 and 1.3300 in the short term.
To the upside, the strong resistance can be seen at 1.3404, a break above will take the pair towards next resistance level at 1.3450.
To the downside immediate support can be seen at 1.3350 levels, a break below will open the door towards next level at 1.3316.
