FxWirePro: USD/CAD declines amid soft U.S. data and tariff concerns

• USD/CAD declined on Friday as   a round of soft U.S. data and the latest tariff announcements weighed on greenback.

• Retail sales dropped 0.9% last month, the biggest decrease since March 2023, after an upwardly revised 0.7% increase in December, the Commerce Department's Census Bureau said.

• U.S. factory production slipped 0.1% in January, falling short of the expected 0.1% increase. This comes after a revised 0.5% rebound in December.

On Thursday, U.S. President Donald Trump tasked his economic team with planning reciprocal tariffs on countries taxing U.S. imports, raising trade war concerns, but held off on imposing new tariffs.

• At GMT 18:52, the pair was down 0.18% at 1.4167 marking its highest level since 12th December.

•  Immediate resistance is located at 1.4203 38.2%fib), any close above will push the pair towards 1.42781(Dec 16th high).

• Support is seen at 1.4250(61.8%fib) and break below could take the pair towards 1.4128(Lower BB).

Recommendation: Good to sell  around 1.4200, with stop loss of 1.4280 and target price of 1.4110