• USD/CAD strengthened on Friday as threat of U.S. tariffs on Canadian imports and political uncertainty weighed on Canadian dollar.
• Trump has threatened a 25% tariff on Canadian exports unless Ottawa strengthens border controls.
• Canadian Prime Minister Justin Trudeau has been under increasing pressure to quit since his finance minister resigned on Dec. 16.
• Investors await monthly employment data from Canada and the U.S. next week for insights into the monetary policy direction in both economies.
• Immediate resistance is located at 1.4477 (23.6%fib), any close above will push the pair towards 1.4534(Higher BB).
• Support is seen at 1.4383(Daily low) and break below could take the pair towards 1.4294(38.2%fib).
Recommendation: Good to buy around 1.4430, with stop loss of 1.4300 and target price of 1.4500
