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- Major support – 1.2660.
- USD/CAD has shown a major decline on Friday after better than expected Canadian jobs data. The pair dipped till 1.26821 and is currently trading around 1.26900.
- The Canadian economy has added 79500 jobs in the month Of Nov compared to forecast of 10000 and unemployment rate fell to 5.9% from a 6.3% level in Oct. Wage growth also gone up 2.8% yoy fastest pace in 19 months.
- The pair has taken support near 1.2660 and shown a minor recovery. Any major weakness can be seen only below 1.2660. Any violation will drag the pair till 1.2600/1.2500.
- The major resistance is around 1.29167 top formed at Oct 27th low and any further bullishness can be seen only above that level. The minor resistance is around 1.2753 (20- day MA) and any break above will take the pair to next level till 1.2800/1.2825 (61.8% fibo).
It is good to buy on dips around 1.2700 with SL around 1.2660 for the TP of 1.2800/1.2825.
