CAD – USD/CAD shows technical stability

The data on Friday showed Canada's total payrolls fell in March and the unemployment rate rose, as uncertainty over tariffs and their subsequent implementation took a toll on hiring. Canada's net job losses in March were 32,600, the first decline in more than three years, while a net increase of 10,000 was expected; the unemployment rate rose to 6.7%.

As for the trend of USD/CAD, as can be seen from the technical chart, both RSI and stochastic index have rebounded from the oversold area, and MACD indicator is also breaking above the signal line. It is expected that USD/CAD can stabilize slightly in the short term. The support is forecasted to 1.4140 and 1.40 levels, with the key reference being the 250-day moving average of 1.3920. As for the upward resistance level, it will firstly at 1.4260 and 1.44, and the next level is forecasted to 1.4450 and 1.4550.

Forecasted range:
Resistance 1.4260 – 1.4400 – 1.4450 – 1.4500
Support 1.4140 – 1.4000 – 1.3920

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