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• EUR/CAD edged lower on Friday as upbeat Canada’s October's jobs report lifted the Canadian dollar.
• Canada’s job market posted a surprise gain in October, rebounding from previous declines, while the unemployment rate fell, offering a bright spot amid the impact of U.S. tariffs.
• The economy added a net 66,600 jobs in October, following 60,400 gains in September, Statistics Canada reported, offsetting most of the job losses from July and August.
• The unemployment rate, which has stayed near a nine-year high outside the pandemic, dropped to 6.9% in October from 7.1% in September.
• Immediate resistance is located at 1.6305(38.2%fib), any close above will push the pair towards 1.6405 (Oct 3rd high).
• Support is seen at 1.6263(SMA20) and break below could take the pair towards 1.6172(38.2%fib).
Recommendation: Good to buy around 1.6280 , with stop loss of 1.6220 and target price of 1.6400
