• USD/CAD steadied on Wednesday as renewed strength in the US Dollar supported the piar.
• A temporary lull in the U.S.-Israel conflict with Iran boosted the U.S. dollar by about 4% from its May low, while crude oil prices retreated to pre-war levels as geopolitical tensions eased...
• The U.S. dollar also remained supported by persistently elevated inflation, a resilient economy and higher Treasury yields, reinforcing expectations that the Federal Reserve will maintain a restrictive monetary policy stance.
• On the geopolitical front, U.S. representatives Jared Kushner and Steve Witkoff traveled to Qatar on Tuesday to meet with mediators as efforts continued to implement an initial peace agreement aimed at ending the conflict with Iran.
• Immediate resistance is located at 1.4238(Higher BB), any close above will push the pair towards 1.4303(Higher BB).
• Support is seen at 1.4182 (June 30th low) and break below could take the pair towards 1.4098 SMA 20).
Recommendation: Good to buy around 1.4200, with stop loss of 1.4130, and target price of 1.4280
