FxWirePro: USD/CAD dips capitalize on dollar decline

• USD/CAD slipped  lower on Wednesday  as rising hopes that the Middle East conflict may end sooner than previously feared clipped safe-haven demand for the greenback.

•    Iran’s ambassador to the United Nations in Geneva said on Tuesday that negotiations with the United States are off the table for now.

• The pair showed little reaction to data showing U.S. private payrolls rose the most in seven months in February, though January’s data was revised sharply lower..

• U.S. private employment rose by 63,000 jobs in February, the largest gain since July 2025, after January’s figure was revised down to 11,000.

• Meanwhile, Canada's services economy contracted for a fourth straight month in February as an uncertain trading environment contributed to declines in activity and ⁠new ​business, S&P Global's Canada services PMI data showed.

• Immediate resistance is located at 1.3725(50%fib), any close above will push the pair towards 1.3746(Higher BB).

• Support is seen at 1.3614(38.2%fib) and break below could take the pair towards 1.3565(Lower BB).

Recommendation: Good to sell around 1.3660, with stop loss of 1.3750and target price of 1.3570