• USD/CAD traded in tight range as investors awaited further updates on President Trump’s expected tariffs, with the April 2 deadline approaching.
• Uncertainty over U.S. tariffs, retaliatory measures, and their potential global impact have kept investors on edge over the past month.
• Oil prices rose 1.2% to $69.84 a barrel, driven by government data showing a decline in U.S. crude oil and fuel inventories last week..
•On the data front, Canadian wholesale trade increased 0.4% in February from January, driven by higher sales in the machinery, equipment, and supplies subsector, according to Statistics Canada's flash estimate on Wednesday.
•At GMT 18:5, the pair was trading up 0.03 percent at 1.4283
• Immediate resistance is located at 1.4339 (March 25th high), any close above will push the pair towards 1.4391(50%fib).
• Support is seen at 1.4244(38.2%fib).) and break below could take the pair towards 1.4201(Lower BB).
Recommendation: Good to sell around 1.4290, with stop loss of 1.4400 and target price of 1.4220
