USD/CAD Outlook (06 March 2020)

Overall, USD/CAD is trending upwards. Recently, USD/CAD trended higher, tested but failed to break the resistance level of 1.34400.
The Canadian employment data will be released later at 2130 (SGT).

Employment Change (Forecast: 10.5K, Previous: 34.5K)
Unemployment Rate (Forecast: 5.6%, Previous: 5.5%)

Currently, USD/CAD is testing to break above the key level of 1.34. Its next support level is at 1.33150 and the next resistance level is at 1.34400.
The U.S. Non-Farm Employment data will be released later at 2130 (SGT). If the released data is overall positive and USD strengthens, while the Canadian employment data are worse than forecasted, look for buying opportunities of USD/CAD if it breaks the resistance level of 1.34400. Otherwise, stay out of USD/CAD.