USD/CAD Consolidates

USD/CAD has been trading in consolidation for the past few days since price reached a high of 1.3500 last week. Currently, the pair is trading at 1.3454 and it appears that both bulls and bears are trying to take control over the market.

It's important to notice that price is really close to the support zone at 1.34 which could mean that bears might attempt to push it down in order for it to reach the support.

On the other hand, bulls have their eyes on first target at 1.3540 and second target at 1.3590. What could determine the potential direction of the pair is the most anticipated news for the month, i.e. the Jobs and NFP data scheduled on Friday.

Chart: USD/CAD H4