USD/CAD Outlook (07 February 2020)

Overall, USD/CAD is trending upwards. Recently, USD/CAD has been ranging across within 50pips.
The Canadian employment data will be released later at 2130 (SGT).

Employment Change (Forecast: 16.3K, Previous: 35.2K)
Unemployment Rate (Forecast: 5.7%, Previous: 5.6%)

Currently, USD/CAD is moving towards the resistance level of 1.33150 and the next support level is at 1.31800.
As the U.S. Non-Farm Payroll data will also be released at the same time as the Canadian employment data, wait for both sets of data to be released and identify the direction of USD/CAD before looking for trading opportunities.