• USD/CAD strengthened on Wednesday as investors evaluated U.S. President Donald Trump's threat of tariffs on automobiles, semiconductors and pharmaceutical products..
• On Tuesday, Trump announced plans to impose auto tariffs "around 25%" and similar duties on semiconductor and pharmaceutical imports.
• Since his inauguration four weeks ago, Trump imposed a 10% tariff on all Chinese imports, on top of existing duties. He also announced a 25%.
• Looking ahead, investors are awaiting the release of the U.S. Federal Reserve's policy meeting minutes, scheduled for 2 p.m. ET.
• Immediate resistance is located at 1.4267 (Dec 16th high), any close above will push the pair towards 1.4302(38.2%fib).
• Support is seen at 1.4161(61.8%fib) and break below could take the pair towards 1.4077(Lower BB).
Recommendation: Good to buy around 1.4210, with stop loss of 1.4140 and target price of 1.4300
