- USD/CAD recovers a few pips after touched the fresh low level of low level during an Asian session.
- The combination of factors limit the position before the announcement of Trump tariffs.
- Technical configuration also justifies caution before placing aggressive directional plants.
The USD/CAD pair reversed the Asian decrease in sessions to levels below 1.4300 or fresh weekly low -affected during the Asian session on Wednesday, and for now it seems that it got stuck in a deadline from an area of ​​1.4415 or almost three weeks of the highest. However, the spot prices lack the next purchase, because traders decide to wait out of the way before the US President Donald Trump’s tariffs were announced later.
In the meantime, concerns about potential economic rainfall from American tariffs, among reports that Trump’s administration is considering applying global tariffs of up to 20% on almost all American trading partners, undermine the Canadian dollar (CAD). After saying, a recent enhance in oil prices offers some support for Loon associated with goods. In addition, the plants that the Federal Reserve (FED) will resume its rate cycle will soon keep the American dollar bulls (USD) on the defensive and limit the advantages for the USD/CAD pair.
From a technical point of view, spot prices showed some resistance and reflected from a 100-day plain movable support (SMA). This, along with the neutral oscillators on the daily table, makes you carefully wait for a lasting break and acceptance below the 1,4300 mark before putting bears on the USD/CAD pair. Another slide may drag point prices towards the swing from last week, around the region of 1.4235, which, if it definitely breaks down, will be seen as a fresh trigger for the bear -bearing of traders.
The USD/CAD pair may then become susceptible to the extension of the inheritance below the 1,4200 mark, in the direction of low year testing, around the region 1.4150 affected on February 14.
On the other hand, any further upward movement can confront with some resistance near the 1.4350 area, above which the miniature movement attack should allow you to recover points with a capacity of 1.4400. Some of the following purchases should pave the way for additional profits and raise a pair of USD/CAD towards an intermediate obstacle 1.4440 on the way to the 1,4480 region, a psychological sign 1.4500 and a monthly swing, around the region 1.4545.
