•EUR/CAD edged higher on Friday as signs of potential trade talks between the U.S. and China lifted investor mood.
• China's Commerce Ministry said it is evaluating a U.S. offer for talks on Trump's 145% tariffs and remains open to dialogue, but emphasized that Washington must show sincerity and be willing to lift unilateral tariffs.
• Trump’s shifting tariff policies have unsettled investors in recent months, disrupting supply chains and prompting some companies to cut earnings forecasts.
• Meanwhile, a survey showed Euro zone manufacturing output rose at its fastest pace in over three years in April, even as overall factory activity stayed in contraction, with key economies showing signs of recovery
• Immediate resistance is located at 1.5698(Daily high), any close above will push the pair towards 1.5836(23.6%fib).
• Support is seen at 1.5585(38.2%fib) and break below could take the pair towards 1.5498(Lower BB).
Recommendation: Good to buy around 1.5650 , with stop loss of 1.5580 and target price of 1.5730
