• USD/CAD gained on Wednesday as the Canadian dollar weakened following Trump’s latest tariff announcement.
• Trump escalated his trade offensive on Tuesday, imposing a 50% tariff on copper and pledging new levies on semiconductors and pharmaceuticals..
• This move came on the heels of Trump warning 14 countries about upcoming tariffs, with plans to issue seven additional notices later that day.
• The extension of tariff deadlines to August 1 has given investors hope that negotiations may defuse the trade standoff.
. •At GMT 16:02, the pair was trading up 0.26 percent at 1.3697
• Immediate resistance is located at 1.3732(50%fib), any close above will push the pair towards 1.3788(Higher BB).
• Support is seen at 1.3566(38.2%fib) and breakbelow could take the pair towards 1.3526(Lower BB).
Recommendation: Good to buyl around 1.3670, with stop loss of 1.3620and target price of 1.3770
