• USD/CAD strengthen on Monday as the Canadian dollar weakened over persistent worries about the global trade war..
• Trump’s tariffs fueled market volatility after he suspended the 25% tariffs on Canadian and Mexican goods that took effect on March 4.
• Recession risks grew for Mexico, Canada, and the U.S. amid trade duty turmoil. In a Sunday interview, Trump declined to speculate on a U.S. recession.
• The Bank of Canada is expected to cut interest rates by 25 basis points this week, responding to economic uncertainties and slowing growth.
•At GMT 16:05, the pair was trading up 0.40 percent at 1.4430
• Immediate resistance is located at 1.4478(50%fib), any close above will push the pair towards 1.4620(March 4th high).
• Support is seen at 1.4336(61.8%fib) and break below could take the pair towards 1.4250(Fe 6th high).
Recommendation: Good to buy around 1.4300 with stop loss of 1.43240 and target price of 1.4380
