•USD/CAD edged higher on Wednesday as investors geared up for the U.S. Federal Reserve's interest-rate verdict due later in the day.
• The central bank is expected to leave its benchmark overnight interest rate unchanged in the 4.25%-4.50% range, when it releases its policy statement at 2 p.m. ET (1800 GMT).
• Focus will be on new economic projections, offering insights into how policymakers view the impact of Trump’s policies on growth, inflation, and unemployment.
• Traders see the Fed lowering borrowing costs by at least two 25-basis point cuts by December, with the first expected in July.
•At GMT 15:14, the pair was trading up 0.21 percent at 1.43027
• Immediate resistance is located at 1.4337(Daily high), any close above will push the pair towards 1.4412(50%fib).
• Support is seen at 1.4274(Lower BB) and break below could take the pair towards 1.4253(61.8%fib).
Recommendation: Be on sidelines
