• USD/CAD traded in tight range on Monday as lingering caution over tariff tensions kept traders on the sidelines.
• U.S. President Donald Trump and Canadian Prime Minister Mark Carney are expected to speak in the coming days following Washington’s imposition of a 35% tariff on goods excluded from the USMCA, a Canadian official said Sunday.
• The steep tariff has sparked concern in Ottawa, particularly as it affects a broad range of Canadian exports that fall outside the USMCA framework.
• The upcoming talks are seen as a critical step in addressing rising trade tensions and maintaining stability in North American economic relations.
•U.S. ISM Non-Manufacturing and Thursday's jobless claims figures are the only other key economic indicators in this data-light week.
• Immediate resistance is located at 1.3869(50%fib), any close above will push the pair towards 1.3914(Higher BB).
• Support is seen at 1.3723(38.2%fib) and break below could take the pair towards 1.3678(June 5th low).
Recommendation: Good to buy around 1.3760, with stop loss of 1.3660 and target price of 1.3830
