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FxWirePro: EUR/CAD bears set to regain control after Tuesday’ failure

• EUR/CAD slipped lower on Wednesday as investors grew concerned over the economic fallout of President Donald Trump's policies on trade and tariffs.

• Attention now turns to the Fed  .The Federal Reserve is expected to keep its benchmark overnight interest rate unchanged within the 4.25%-4.50% range when it announces its policy decision at 1800 GMT.

•Investors will focus on new economic projections amid tumbling stock markets and signs of tightening credit.

 •At GMT 17:40, the pair was trading down 0.44 percent  at 1.5579

•  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 1.5600  with stop loss of 1.5670 and target price of 1.5500

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