• USD/CAD advanced on Wednesday as the greenback posted broad-based gains and trade uncertainty revived concerns over Canada's economic outlook.
• The U.S. imposed new 50% tariffs on $20 billion of Canadian imports on Saturday after talks between the two countries collapsed.
• Canada hit back on Tuesday with retaliatory tariffs on about $20 billion worth of U.S. annual imports and rolled out aid for businesses and workers.
• Oil prices, a major Canadian export, edged lower as investors monitored Iran-Oman talks over the Strait of Hormuz, while shipping disruptions continued in the key oil-exporting region. U.S. crude futures fell 0.1% to $82.27 a barrel.
• Immediate resistance is located at 1.3899 (50%fib), any close above will push the pair towards 1.3913(SMA20).
• Support is seen at 1.3831(Daily low) and break below could take the pair towards 1.3740(38.2%fib).
Recommendation: Good to sell around 1.3920with stop loss of 1.4000 and target price of 1.3860
