• USD/CAD declined on Wednesday as dollar fell as concerns continued about U.S. President Donald Trump's efforts to push through a tax-cutting bill.
• Markets turned their attention to U.S. House of Representatives hearing on the proposed tax bill, which President Trump described as “big, beautiful.” The bill faces hurdles as Republicans remain divided over issues like Medicaid cuts and tax relief for residents of high-cost coastal states.
• Markets will also watch the G7 finance ministers' meeting in Canada for signals that a weaker dollar might support progress in trade talks.
• At GMT 17:46, the pair was down 0.58% at 1.3835 marking its lowest level since 8th May.
• Immediate resistance is located at 1.3925(Daily high), any close above will push the pair towards 1.4000(Psychological level).
• Support is seen at 1.3809(23.6%fib) and break below could take the pair towards 1.3755(Lower BB).
Recommendation: Good to sell around 1.3880 with stop loss of 1.3960 and target price of 1.3760
