• USD/CAD dipped on Monday as investors monitor trade negotiations and Canadian elections,
• Canadians head to the polls on Monday following an election campaign dominated by U.S. President Donald Trump's tariffs and his controversial comments about annexing Canada.
•Trump’s threats sparked a surge of patriotism, boosting support for Liberal Prime Minister Mark Carney, a political newcomer and former head of two G7 central banks.
• Technical highlight downside risks for USD/CAD, with momentum studies, 5, 10 and 11 DMAs tracking south.
• Immediate resistance is located at 1.3881 (50%fib), any close above will push the pair towards 1.3964 (61. 8%fib).
• Support is seen at 1.3810 ( 38.2%fib) and break below could take the pair towards 1.3710 (23.6%fib).
Recommendation: Good to sell around 1.3830 with stop loss of 1.3900 and target price of 1.3750
