• USD/CAD recovered towards 1.3900 level on Wednesday as investors welcomed U.S. President Donald Trump's assurance that he would not fire Federal Reserve Chairman Jerome Powell..
• Markets have been unsettled this week amid concerns over the Fed’s independence, following Trump’s renewed criticism of Chair Powell for not cutting interest rates.
• Trump signaled a desire for a trade deal with China involving far lower tariffs than 145%, adding he would set the terms if Beijing refused to negotiate.
• All eyes are on Friday’s Canadian retail sales, which will offer insight into consumer spending as the country faces economic uncertainty linked to U.S. tariffs.
• At GMT 10:01, the pair was trading up 0.59 percent at 1.3895
• Immediate resistance is located at 1.3906 (April 17th high), any close above will push the pair towards 1.3957(38.2%fib).
• Support is seen at 1.3785(23.6%fib) and break below could take the pair towards 1.3665 (Lower BB).
Recommendation: Good to sell around 1.3900, with stop loss of 1.4000 and target price of 1.3830


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