USD/CAD holds the range for now

On Friday afternoon the Canadian October jobs report was the main economic release of any note. It was rather mixed though, because the lower than expected payroll count (+14.5k compared to expected 27k) was countered by the fact that the unemployment rate did not increase to 6.6% as expected. It remained at 6.5%. So, the USD/CAD rejected a fall below 1.3822 and later rebounded to a session high at 1.3928, before later closing at 1.3912. That meant the noted, potential double top on the daily charts (1.3959) was not confirmed by a break below 1.3822. At the same time though, that 1.3959 price point was not put to the test. The price action overnight and so far this morning has seen a range covered by 1.3894 to 1.3927. So, as you can see, the noted range (1.3822-1.3959) has remained thoroughly intact. The question again this week, is will the stronger US Dollar dynamic win out, or will the technical outlook help the Canadian dollar to resist a break above 1.3959? The USD/CAD is currently trading at 1.3912