FxWirePro: USD/CAD edges higher but outlook still bearish

• USD/CAD moved higher on  Friday as investors weighed uncertainty over U.S. trade deals ahead of Washington's looming July 9 deadline.

• With U.S. markets closed for Independence Day, focus shifted to Trump’s July 9 deadline, when sweeping tariffs are set to take effect on countries like Japan that haven’t secured trade deals.

•   U.S. President Donald Trump said Thursday that starting Friday, Washington will send letters to countries outlining the tariff rates they will face on imports to the United States.

  •On the data front,  S&P's Canada Services PMI released Friday showed a deeper contraction in June, as uncertainty around U.S. trade policy weighed on activity and pushed up cost pressures.

• The Business Activity Index dropped to 44.3 in June from 45.6 in May, marking the seventh consecutive month of contraction, as it remained below the 50 threshold.

•At GMT 15:39, the  dollar was trading up 0.16% at 1.3604 against Canadian  dollar   .

• Immediate resistance is located at 1.3658(SMA20), any close above will push the pair towards 1.3726(50%fib).

• Support is seen at 1.3551(38.2%fib) and break below could take the pair towards 1.3517(Lower BB).

Recommendation: Good to sell around 1.3630, with stop loss of 1.3700 and target price of 1.3550