• USD/CAD extended weakness on Tuesday as greenback dollar dipped after U.S. jobs report that showed the unemployment rate rose last month from September.
• The U.S. economy added 64,000 jobs in November, exceeding expectations, after losing 105,000 jobs in October, Labor Department data showed.
•Meanwhile, the unemployment rate rose to 4.6% in November from 4.4%, marking its highest level since 2021. Still, the jobs data was not as weak as some had feared.
• Investors now turn their attention to November’s Consumer Price Index due Thursday, and the Personal Consumption Expenditures index set for release on Friday..
• Canada’s October retail sales data is due later this week. The Bank of Canada kept rates unchanged last week, with Governor Tiff Macklem saying the economy remains broadly resilient to U.S. trade measures.
• Immediate resistance is located at 1.3781(Daily high), any close above will push the pair towards 1.3831(38.2%fb).
• Support is seen at 1.3726(23.6%fb) and break below could take the pair towards 1.3690(Lower BB).
Recommendation: Good to sell around 1.3760, with stop loss of 1.3850 and target price of 1.3680
