FxWirePro: USD/CAD bullish bias persists, pushing towards 1.3800 handle

• USD/CAD edged higher on Monday as awaited U.S. labor data this week that could guide global monetary policy.

•Trading activity is likely to remain subdued throughout the day as markets observe a U.S. holiday, with lower liquidity expected to limit volatility and reduce the pace of transactions

• investors are closely watching U.S. labor market data this week, as the reports could provide crucial signals for the Federal Reserve's next policy moves and influence global monetary policy decisions..

• Strong employment figures may reinforce expectations of tighter policy, while weaker-than-expected data could increase speculation of interest rate cuts, affecting markets worldwide.".

•  Money markets have recently priced an around 90% chance of a 25 basis-point Fed rate cut in September and around 100 bps of easing by autumn 2026, according to the CME FedWatch tool.

• Immediate resistance is located at 1.3802(SMA 20), any close above will push the pair towards 1.3847(50%fib).

• Support is seen at 1.3710(38.2%fib) and break below could take the pair towards 1.3648(Lower BB).

Recommendation: Good to buy around 1.3750, with stop loss of 1.3660 and target price of 1.3850