• USD/CAD slipped on Thursday as the Canadian dollar gained strength, boosted by the potential delay of tariffs and optimism surrounding peace talks between Russia and Ukraine.
• The delay, which may extend until April 1, comes as part of ongoing negotiations aimed at resolving trade tensions and concerns over the economic impact of these tariffs..
• The delay of 25% U.S. tariffs on Canadian and Mexican imports relieved automakers and suppliers concerned about higher costs and factory shutdowns.
• Oil prices dropped over 1% on Thursday, weighed down by hopes of a Russia-Ukraine peace deal and risin U.S. crude inventories.
• Immediate resistance is located at 1.4310(Daily high), any close above will push the pair towards 1.4359(50%fib).
• Support is seen at 1.4213 (61.8%fib) and break below could take the pair towards 1.4185(Lower BB).
Recommendation: Good to sell around 1.4250, with stop loss of 1.4310, and target price of 1.4200
