• EUR/CAD traded in tight range Tuesday as investors assessed U.S. President Donald Trump's new tariff proposals for several trading partners..
• On Monday, President Trump notified 14 countries including key Asian partners Japan and South Korea that they will face sharply higher U.S. import tariffs beginning August 1.
• Since capping so‑called reciprocal tariffs at 10% for three months in April, Trump’s stalled trade talks have cast a shadow over market sentiment..
• So far, only Britain and Vietnam have struck trade deals, and in June the U.S. and China agreed on a tariff framework.
• Data on Tuesday showed German exports dropped sharply in May, as the earlier boost from pre-tariff stockpiling faded.
• Data from the Federal Statistics office showed that exports from Europe’s largest economy fell 1.4% in May compared to April.
• Immediate resistance is located at 1.6114(23.6%fib), any close above will push the pair towards 1.6175(Higher BB).
• Support is seen at 1.5928(38.2%fib) and break below could take the pair towards 1.5774(50%fib).
Recommendation: Good to buy around 1.5990 , with stop loss of 1.5900and target price of 1.6080
