FxWirePro: USD/CAD claws back some ground, but downtrend remains intact

• USD/CAD rebounded  on Friday   as Canadian dollar weakened after   Canada's GDP growth stalled in November.

• Canada's economic growth stalled in November as an expansion in services was ‌offset by weakness in goods-producing industries, data showed on Friday, as Canada's economy slows down after almost a year of tariffs and trade uncertainty.

• Gross domestic product was flat month-on-month in November, after a 0.3% contraction in October, Statistics Canada said.

•U.S. crude  rose 0.17% to $65.53 a barrel and Brent  rose to $70.74 per barrel, up 0.04% on the day,

• Meanwhile,Trump named former Fed Governor Warsh to succeed Jerome Powell when his term ends in May, giving a frequent Fed critic a chance ⁠to put his idea of monetary policy "regime change" into practice..

•  Immediate resistance is located at 1.3602(38.2%fib), any close above will push the pair towards 1.3702(50%fib).

• Support is seen at 1.3482(23.6%fib) and break below could take the pair towards 1.3450(Lower BB).

Recommendation: Good to sell  around 1.3600, with stop loss of 1.3720 and target price of 1.3520