• USD/CAD extended decline on Thursday higher commodities prices and weaker greenback boosted loonie.
• On the data front, Canada’s trade surplus narrowed to C$769 million ($557 million) from a four-year high of C$4.2 billion recorded a month earlier, Statistics Canada said on Thursday
• Investors are awaiting key U.S. payrolls data and domestic employment figures due on Friday, which could further shape expectations for the policy path of both central banks.
• The Bank of Canada kept interest rates unchanged on Wednesday, but Governor Tiff Macklem said policymakers were prepared to raise rates further if inflation remained elevated.
• Immediate resistance is located at 1.3860(SMA 20), any close above will push the pair towards 1.3888(61.8%fib.).
• Support is seen at 1.3784 (38.2%fib) and break below could take the pair towards 1.3713(Lower BB).
Recommendation: Good to sell around 1.3800 with stop loss of 1.3850 and target price of 1.3740
