FxWirePro: EUR/CAD bulls cede some ground as tariff tensions ease

• EUR/CAD dipped on Friday as easing U.S.-China trade tensions boosted risk sentiment, reducing demand for the euro.

• President Trump said on Friday that the U.S. is in talks with China over a tariff deal and claimed Xi Jinping reached out to him.

• Beijing exempted some U.S. imports from its 125% tariffs but denied Trump’s claims of negotiations, following signs of easing tensions between the U.S. and China.

• The tit-for-tat tariffs, which began with Trump's announcement of significant import levies on April 2, had raised concerns about a potential slowdown in global trade and growth between the world's two largest economies.

•  Immediate resistance is located at 1.5919 (23.6%fib), any close above will push the pair towards 1. 6010 (23.6%fib).

•  Support is seen at 1.5714 (38.2%fib) and break below could take the pair towards 1.5566 (March 18th low).

Recommendation: Good to buy around 1.5720, with stop loss of 1.5600 and target price of 1.5800