FxWirePro: USD/CAD bulls continue to hold the higher ground

• USD/CAD steadied  on Thursday   as investors tracked developments from the U.S.-China summit,.

•Global attention was on the two-day meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping in Beijing that has shown initial signs of progress.

•Investors were scouring for any clues that China could convince Iran to sign a peace deal with Washington after weeks of an uncertain ceasefire.

•The U.S. dollar  added to recent gains against a basket of major currencies after economic data kept expectations intact that the Federal Reserve was unlikely to lower interest rates this year.

. On the data front, Canadian home sales posted a modest increase of 0.7% in April from March after a slow start to the month, and prices edged lower, data from the Canadian Real Estate Association showed on Thursday.

•  Immediate resistance is located at 1.3772(Higher BB), any close above will push the pair towards 1.3801(38.2%fib).

• Support is seen at 1.3662 (50%fib) and break below could take the pair towards 1.3574(Lower BB).

Recommendation: Good to buy around 1.3700, with stop loss of 1.3640 and target price of 1.3760