USD/CAD Defends Key Support Amid Trade War Fears and Weak Oil Prices
The USD/CAD pair stands its ground above the significant psychological level of 1.4000, even as it faces resistance over the second consecutive day. This stabilization comes amidst renewed buying of the US Dollar (USD) as concerns of a prolonged trade war rise, coupled with diminishing oil prices. The fundamental backdrop suggests that traders might exercise caution before making further moves in anticipation of potential extensions of this week’s pullback from higher levels. This situation unfolds as market conditions continue to develop and evolve through these uncertain times.
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