• USD/CAD was little changed on Monday as new tariffs announced by President Trump reignited global trade war fears, while investors looked ahead to the Fed’s policy decision later this week.
• On Sunday, President Trump announced a 100% tariff on foreign-produced movies, though details on the implementation of the measure remained unclear.
• This week, markets will focus on the U.S. Fed, which is expected to hold rates steady, with attention on policymakers’ comments for clues on potential easing amid tariff-related pressures.
• At GMT 16:03, The dollar was 0.05% down at 1.3809 against Canadian dollar
• Immediate resistance is located at 1.3866 (38.2%fib), any close above will push the pair towards 1.3906 (April 23rd high).
• Support is seen at 1.3754(23.6%fib) and break below could take the pair towards 1.3671(Lower BB).
Recommendation: Good to sell around 1.3840, with stop loss of 1.3930 and target price of 1.3750
