• USD/CAD fired on Tuesday after preliminary data showed a decline in factory sales, while uncertainty over North American trade talks weighed on sentiment.
• The United States-Mexico-Canada Agreement, which protects most Canadian exports from U.S. tariffs, is scheduled for review ahead of the July 1 deadli.
• Preliminary estimates showed Canadian factory sales likely declined 3.3% in January from December, mainly due to weaker transportation equipment and machinery sales..
• Oil prices, a key driver of Canada’s export, fell 0.8% to $65.81 per barrel as traders awaited updates from nuclear talks between the U.S. and Iran.n.
• Immediate resistance is located at 1.3730(50%fib), any close above will push the pair towards 1.3755(Higher BB).
• Support is seen at 1.3634 (SMA 20) and break below could take the pair towards 1.3618(38.2%fib).
Recommendation: Good to buy around 1.3670, with stop loss of 1.3600 and target price of 1.3760


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