USDCAD has lost more than 70 pips after the release of Canadian jobs data. The Canada economy has added 53000 jobs for the month of Sep compared to a forecast of 11200 and the unemployment rate declined to 5.5% from 5.7%. The slight optimism in US-China trade talks also supporting the Canadian dollar. It hits an intraday low of 1.32060 and is currently trading around 1.32150.
WTI crude oil prices have halted its 2 weeks of weakness and shown a minor recovery of more than $3. Any break below $50 confirms further decline.
On the flip side, near term support is around 1.3180 and any violation below will drag the loonie down till 1.3135/1.3090.
The near term major resistance is around 1.3235 and any convincing break above targets 1.3265/1.3300 likely.
It is good to sell on rallies around 1.3248-50 with SL around 1.3300 for the TP of 1.3135.