FxWirePro: EUR/CAD downside pressure builds, key support level in focus

• EUR/CAD dipped  on Thursday as investor concerns grew over the economic impact of President Donald Trump’s trade and tariff policies.

• The European Commission proposed reinstating 2018 tariffs on €4.5 billion ($4.9 billion) of U.S. goods on April 1, with an additional €18 billion in tariffs set for April 13..

• Over the past week, Washington imposed tariffs on steel and aluminum, the EU announced retaliation plans, and Trump threatened 200% tariffs on EU wine and spirits, with more tariffs expected in April.

•Italian Prime Minister Giorgia Meloni cautioned EU partners on Tuesday against escalating the trade dispute with the United States.

 •At GMT 16:49, the pair was trading down 0.45 percent  at 1.5547

•  Immediate resistance is located at 1.5690(38.2%fib), any close above will push the pair towards 1.5749(March 14th ).

• Support is seen at 1.5516(38.2%fib) and break below could take the pair towards 1.5413(March 7th low).

Recommendation: Good to sell around 1.5560  with stop loss of 1.5620 and target price of 1.5480