FxWirePro: USD/CAD bulls undeterred, eyes 1.4300 level

• USD/CAD strengthened  on Friday as rate cut by the BoC  and the threat of U.S. tariffs on Canada weighed on  Canadian dollar.

• The Bank of Canada cut its key rate by 50 basis points to 3.25% on Wednesday to address slower growth, with Governor Tiff Macklem indicating that future cuts would be gradual and no recession is expected.

• Trump has threatened to impose a 25% tariff on all Canadian exports unless Ottawa tightens its border, a move that Governor Macklem said has clouded the economic outlook.

• Canada's economy grew at an annualized rate of just 1% in the third quarter, below the Bank of Canada's forecast.

• At GMT 16:39, the pair was up 0.13% at 1.4182, marking its highest level since April 2020.

•  Immediate resistance is located at 1.4263 (23.6%fib), any close above will push the pair towards 1.4287(Higher BB).

• Support is seen at 1.4121(38.2%fib) and break below could take the pair towards 1.4000(Psychological level).

Recommendation: Good to buy  around 1.4200, with stop loss of 1.4120 and target price of 1.4300