FxWirePro: USD/CAD trades weak after better than expected Canadian jobs data, good to sell on rallies

• USD/CAD has shown a minor selling after hitting 3-1/2 month high on Oct 31st 2017. The major decline in Loonie after better than expected Canadian jobs data. The pair has broken 10 –day MA at 1.27780 and is currently trading around 1.27318.
   
• Canadian economy has added 35K jobs in this month compared to forecast of 15K.  Unemployment rate came at 6.3% compared to forecast of 6.2%.
   
• Technically on the higher side near term resistance is around 1.2925 (55- W EMA) and any break above will take the pair to next level till 1.3000/1.3050 in the short term. The near term resistance is around 1.2800/1.2850.
   
• The major support is around 1.2710 (23.6% retracement of 1.20613 and 1.29148) and any break below will drag the pair to next level till 1.2638 (20- day MA)/1.2600.Minor weakness can be seen only below 1.2600.

It is good to sell on rallies around 1.2765-1.2770 with SL around 1.2825 for the TP of 1.2605.