• USD/CAD rose to hit fresh four year high on Wednesday as Canadian dollar was hurt political unrest and stronger dollar.
• U.S. dollar strengthened against its peers on Wednesday, ahead of the Federal Reserve's upcoming monetary policy decision later in the day.
• Prime Minister Justin Trudeau's government was rocked on Monday by the sudden resignation of Finance Minister Chrystia Freeland.
• The cross pair hit daily high at 1.4337, its highest level since March 2020.
• Buying pressure will remain in the short-term, only a move above 1.4143 ( 50 % fib) strong support will undermine upside.
• Immediate resistance is located at 1.4337(23.6% fib), any close above will push the pair towards 1.4385 (Higher BB)
• Support is seen at 1.4231 (38.2%fib) and break below could take the pair towards 1.4143 (38.2%fib).
Recommendation: Good to buy around 1.4300, with stop loss of 1.4140 and target price of 1.4400.
