• USD/CAD traded flat on Thursday as investors digested Fed interest ratedecision and awaited fresh catalyst.
• The Fed raised its key interest rate for the first time in over three years on Wednesday and signaled more hikes this year to fight stubbornly high inflation in the economy.
•Markets are pricing in about a 53% chance of another rate hike at the Fed's October meeting, per CME Group's FedWatch tool.
•On Thursday, oil prices eased as Saudi Arabia's supplies calmed concerns, though prices remained above $100 a barrel due to fears of a wider Middle East conflict..
• Immediate resistance is located at 1.3988(Higher BB), any close above will push the pair towards 1.4065 (38.2%fib.).
• Support is seen at 1.3928 (50%fib) and break below could take the pair towards 1.3869(SMA20).
Recommendation: Good to buy around 1.3970 with stop loss of 1.3900 and target price of 1.4050
