• The USD/CAD plummeted towards 1.3000 levels after Canadian employment data showed sharp rise in March. In quick succession the pair hit daily low of 1.3000, wiping out earlier gains.
   
• Canada added far more jobs than expected last month as service sector hiring accelerated and the unemployment fell from three year low.
   
• The Canadian economy added 40,600 jobs in March, far surpassing expectation for 10000. the unemployment rate declined to 7.1 percent.
   
• The intraday trend remains bearish for the pair as the oil co-related Canadian dollar has shown strengths against US dollar lately as the oil prices once again recovered towards $ 40 a barrel.
   
• The currency pair is trading at 1.2986 levels, it is expected to reach 1.2950 levels and later 1.2900 levels in the short term.
   
• The immediate support can be seen at 1.2980, break below this level will expose the pair to next support level at 1.2931.
   
• Major resistance can be seen at 1.3010, break above this level will expose it towards 1.3055 levels.
  
  Resistance Levels
  
  R1: 1.3010 (50% Retracement level)                        
  
  R2: 1.3055 (61.8% Retracement level)
  
  R3: 1.3105 (April 8th high)
  
  Support Levels
  
  S1: 1.2980 (38.2% Retracement level)    
  
  S2:1.2931 (23.6% Retracement level)
  
  S3: 1.2900 (Psychological levels)