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FxWirePro: EUR/CAD retreats slightly but trend is still bullish

• EUR/CAD edged higher initial  on Tuesday  but later retreated as investors cautiously scoured for more clarity on U.S. President Donald Trump's trade policies.

• On Monday, U.S. President Donald Trump suggested the possibility of exemptions to the 25% tariffs imposed on imports of automobiles and auto parts.

• This came after Friday’s decision to exempt smartphones, computers, and certain other electronics from Trump’s "reciprocal" tariffs.

• Trump initially introduced reciprocal tariffs globally on April 2, only to reverse those duties last week for a 90-day period, causing market volatility.

• Investors are now awaiting the European Central Bank's policy meeting on Thursday, with markets broadly expecting a 25-basis-point rate cut.
 
•  Immediate resistance is located at 1.5874(23.6%fib), any close above will push the pair towards 1.5924(April 11th high).

•  Support is seen at 1.5677(38.2%fib) and break below could take the pair towards 1.5513(50%fib).

Recommendation: Good to buy   around 1.5700 , with stop loss of 1.5520  and target price of 1.5930
 

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