FxWirePro: USD/CAD extends gains, faces 50%fib resistance

• USD/CAD rose to hit one month high on Wednesday  as investors assessed a batch of U.S. labor market data and its monetary policy implications.

•U.S. job openings fell more than expected in November while hiring eased, according to Labor Department data, suggesting demand for labor continued to ebb.

•Elsewhere, Institute for Supply Management data showed that U.S. services sector activity unexpectedly picked up in December, while private payrolls rebounded less than expected in December, according to the ADP's national employment report.

• The price of oil settled 2% lower at $55.99 a barrel as investors weighed a U.S. deal to import Venezuelan crude.

• Looking ahead, Canada's trade data for October is due on Thursday. Economists expect the trade balance to swing to a deficit of C$1.4 billion, after it posted a surprise surplus in September.

•  Immediate resistance is located at 1.3863 (Higher BB), any close above will push the pair towards 1.3881(50%fib).

• Support is seen at 1.3779(61.8%fib) and break below could take the pair towards 1.3755(Lower BB).

Recommendation: Good to buy  around 1.3820, with stop loss of 1.3750 and target price of 1.3900