FxWirePro: USD/CAD downside pressure builds, key support level in

• USD/CAD extended decline on Wednesday as markets focused on the prospect of renewed talks between the United States and Iran aimed at ending the war.

• U.S. President Donald Trump said the war with Iran could end soon, telling the world to watch out for an "amazing two days," while U.S. forces imposing a blockade turned back vessels leaving Iranian ports.

• A senior U.S. official said Washington has not formally agreed to extend the ceasefire with Iran, though both sides remain engaged in ongoing discussions aimed at reaching a broader deal.

• The conflict has effectively closed the Strait of Hormuz—a vital route for around a fifth of global oil and gas flows, along with key goods like fertilizer—since U.S.-Israel attacks on Iran began on February 28.

• On the economic front, it was a relatively quiet and uneventful session for Canada, as there were no major data releases.

•  Immediate resistance is located at 1.3754( 50%fib), any close above will push the pair towards 1.3839(Dec 16th high).

• Support is seen at 1.3690(Lower BB) and break below could take the pair towards 1.3654(38.2%fib).

Recommendation: Good to sell  around 1.3750, with stop loss of 1.3830 and target price of 1.3680