USD/CAD rises as strong US job vacancies boost dollar sentiment

USD/CAD has gained 0.25% to trade near 1.3650 as the US dollar finds support from stronger-than-expected job vacancy data, signaling resilience in the American labor market. The JOLTS job openings report exceeded forecasts, suggesting continued tightness in employment conditions that could support Federal Reserve hawkish positioning. This development has temporarily reversed the pair's recent downtrend, with bullish momentum building as traders reassess dollar weakness. Technical analysis shows immediate resistance at 1.3680, coinciding with the 50-day moving average, while support holds at 1.3620. The Canadian dollar's response remains muted despite steady oil prices near $85 per barrel. Traders await Friday's Canadian employment data and US Non-Farm Payrolls for further direction, with a break above resistance potentially targeting 1.3720, while failure to hold current levels could see a retest of 1.3600 support.