FxWirePro: USD/CAD momentum bearish despite pause in losses

• USD/CAD initially dipped but recovered some ground amid uncertainty over the tight Canadian general election and the upcoming U.S. trade tariffs scheduled for April 2.

• On Monday, U.S. President Donald Trump indicated that some proposed tariffs might not take effect by April 2, as certain countries could receive exemptions.

•Canada is a key exporter of automobiles, oil, and other goods to the United States.

• Meanwhile, oil prices climbed for the fifth straight day amid expectations of a tighter global supply following the U.S. decision to impose tariffs on countries purchasing Venezuelan crude.

 •At GMT 17:11, the pair was trading down 0.15 percent  at 1.4296

•  Immediate resistance is located at 1.4413 (38.2%fib), any close above will push the pair towards 1.4518(Higher BB).

• Support is seen at 1.4260(50%fib).) and break below could take the pair towards 1.4220(Lower BB).

Recommendation: Good to sell around 1.4300, with stop loss of 1.4400 and target price of 1.4220