• USD/CAD pair initially surged towards 1.3400 levels after the release of ADP employment figures from the US market. However, USD/CAD pair immediately gathered bearish momentum to hit low around 1.3306 levels after Bank of Canada left its interest rate unchanged at 0.50 %. 
  
  
• The pair continues to remain in bullish territory unless until it trades above 1.3300 levels, therefore, it's good to buy this pair on dips.
  
  
• The currency pair is trading at 1.3347 levels, it is expected to reach 1.3400 levels and 1.3450 levels in the short term.
  
  
• The immediate support can be seen at 1.3301, break below this level will expose the pair to next support level at 1.3270.
  
  
• Major resistance can be seen at 1.3361, break above this level will expose it towards 1.3406 levels.
  
  Recommendation: Go  long around 1.3310 with targets at 1.3360, 1.3430 SL 1.3240.
  
  Resistance Levels
  
  R1: 1.3361 (38.2% Retracement level)
  
  R2: 1.3406 (Daily high)
  
  R3: 1.3442 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3301 (50% Retracement level)
  
  S2: 1.3270 (Nov 25th lows)
  
  S3: 1.3236 (50% Retracement level)