• USD/CAD declined on Thursday as the U.S. dollar weakened on bets of further monetary easing, amid pressure from Donald Trump for rate cuts.
• Kevin Hassett, seen as a leading contender to succeed Jerome Powell as Fed Chair, has aligned with Donald Trump in calling for an interest rate cut..
• Comments this week from San Francisco Federal Reserve Bank President Mary Daly and Fed Governor Christopher Waller further boosted expectations of a rate cut..
•Traders are now pricing in an 85% chance of a rate cut next month compared with just 30% a week earlier, CME FedWatch showed.
• At GMT 16:52, the pair was down 0.07% at 1.4033 marking its lowest level since 19th November.
• Immediate resistance is located at 1.4056( SMA 20), any close above will push the pair towards 1.4103(Nov 26th high).
• Support is seen at 1.4030(38.2%fib) and break below could take the pair towards 1.3980(Lower BB).
Recommendation: Good to sell around 1.4050, with stop loss of 1.4100 and target price of 1.3950
