FxWirePro: USD/CAD extends gains, eyes 1.3950 level

• USD/CAD rose Thursday as softer commodity prices and a stronger U.S. dollar followed Trump’s tempered comments on Iran and the Fed..

• Oil slid from multi-month highs and gold pulled back from record levels as safe-haven demand eased on hopes Trump is stepping back from Iran strike threats..

•Trump told medai on Wednesday he has no plans to fire Fed Chair Jerome Powell despite a Justice Department criminal probe.

• On the political front, Canadian PM Carney praised improving China ties and President Xi’s leadership, saying both nations are forging a new path of cooperation amid global uncertainty.

•  Immediate resistance is located at 1.3936(50%fib), any close above will push the pair towards 1.3951(Higher BB).

• Support is seen at 1.3895(50%fib) and break below could take the pair towards 1.3788(SMA20).

Recommendation: Good to buy  around 1.3890, with stop loss of 1.3820 and target price of 1.3950