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USDCAD is trading slightly weak after a minor jump till 1.3105 level. The Canadian jobs data which came better than expected is putting pressure on this pair at higher levels. It came at 35.2k vs forecast of 24.9k and the unemployment rate declined to 5.6% from 5.8%. The pair hits low of 1.30292 on Friday and is currently trading around 1.30453.
WTI crude oil prices continue to trade lower and lost more than 10% from temporary top $65.62. It is currently trading around $59.12.
USDCAD is facing strong resistance around 1.3100-05 and any further bullish continuation only beyond that level. Any break up targets 1.31480/1.31800. The minor resistance is at 1.30600.
On the flip side, near-term support is around 1.3020 and any indicative break under will drag the pair till 1.3000/1.29500.
It is good to sell on rallies around 1.3045-48 with SL around 1.3080 for the TP of 1.2960.
