USDCAD halted its 5-weeks of the bullish trend and lost nearly 40 pips from a high of 1.3320 after releases of US and Canadian jobs data. US economy has added 225000 jobs in Jan vs forecast of 163000, unemployment slightly ticked up by 3.6% vs 3.5%. Average hourly earnings declined to 0.2% compared to 0.3%. Canadian employment came much better than expected, 34.5K jobs vs forecast of 16.3K, the unemployment rate came at 5.5% vs 5.7%.
On the flip side, immediate support at 1.3260 and any violation below will drag the pair down till 1.3230/1.3180.
The near-term significant resistance is at 1.3385, an indicative break above targets 1.3435/1.3500.
It is good to buy on dips around 1.3288-90 with SL around 1.3260 for the TP of 1.3385/1.3400.
