•USD/CAD edged lower on Thursday as investors digested by comments by Bank of Canada Governor Tiff Macklem.
•Last week, the Bank of Canada warned of inflationary pressures and slower growth driven by trade uncertainty following Trump’s tariffs.
• Macklem stated that uncertainty over U.S. tariffs required a less forward-looking approach to monetary policy while reaffirming the bank’s commitment to low inflation..
• The Bank of Canada last week had also raised concerns about inflationary pressures and weaker growth stemming from trade uncertainty after President Donald Trump's tariffs.
•At GMT 15:14, the pair was trading up 0.21 percent at 1.43027
• Immediate resistance is located at 1.4431 (23.6%fib), any close above will push the pair towards 1.4519(38.2%fib).
• Support is seen at 1.4261(38.2%fib) and break below could take the pair towards 1.4102(61.8%fib).
Recommendation: Good to buy on dips around 1.4320, with stop loss of 1.4188 and target price of 1.4500
