• USD/CAD strengthened on Thursday as Canadian dollar weakened after President Donald Trump's announcement of tariffs on auto imports intensified the global trade war.
• Trump on Wednesday imposed a 25% tariff on imported cars and light trucks, set to take effect next week, triggering retaliation threats from governments including Ottawa and Paris.
• Prime Minister Mark Carney said on Wednesday that Canada will soon respond to Trump’s new tariffs on imported vehicles and may impose retaliatory measures against the U.S.
•At GMT 16:30, the pair was trading up 0.32 percent at 1.4312
• Immediate resistance is located at 1.4326 (March 25th high), any close above will push the pair towards 1.4381(50%fib).
• Support is seen at 1.4244(61.8%fib).) and break below could take the pair towards 1.4198(Lower BB).
Recommendation: Good to sell around 1.4290, with stop loss of 1.4200 and target price of 1.4380
