FxWirePro: USD/CAD attracts selling interest, vulnerable to more downside

• USD/CAD declined on Tuesday as dollar weakened as investors began to grow impatient over hoped-for U.S. trade deals.

• The Trump administration hinted at trade deals last week, but markets remain cautious amid a lack of concrete outcomes.

• Tariff-related uncertainty has prompted consumers, businesses, and the Fed to hold back on major decisions as they assess potential economic fallout.  

•Canada's trade deficit narrowed to C$506 million ($366.34 million) in March, beating expectations as imports fell at a faster rate than the drop in exports.

•Looking ahead, investors will monitor the Fed's two-day meeting scheduled to start later in the day for hints of potential monetary policy easing this year.

• Immediate resistance is located at 1.3844 (Daily high), any close above will push the pair towards 1.3903(38.2%fib).

• Support is seen at 1.3755(38.2%fib) and break below could take the pair towards 1.36968(Lower BB).

Recommendation: Good to sell around 1.3800, with stop loss of 1.3900 and target price of 1.3650