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FxWirePro: USD/CAD attracts buying interest, 50% fibonacci eyed

• USD/CAD gained on Wednesday as the Canadian dollar weakened following Trump’s latest tariff announcement.

•  Trump escalated his trade offensive on Tuesday, imposing a 50% tariff on copper and pledging new levies on semiconductors and pharmaceuticals..

• This move came on the heels of Trump warning 14 countries about upcoming tariffs, with plans to issue seven additional notices later that day.

• The extension of tariff deadlines to August 1 has given investors hope that negotiations may defuse the trade standoff.

.  •At GMT 16:02, the pair was trading up  0.26 percent  at 1.3697

• Immediate resistance is located at 1.3732(50%fib), any close above will push the pair towards 1.3788(Higher BB).

• Support is seen at 1.3566(38.2%fib) and breakbelow could take the pair towards 1.3526(Lower BB).

Recommendation: Good to buyl around 1.3670, with stop loss of 1.3620and target price of 1.3770

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