FxWirePro: USD/CAD claws back some losses but recovery likely muted

• USD/CAD initially dipped   but recovered some ground on Friday  as investors assed US jobs data and signs of easing trade tensions

• "The U.S. added 177,000 jobs in April, surpassing expectations, while the jobless rate held at 4.2%. The solid labor report helped ease recession fears sparked by the first GDP contraction in three years.

• Beijing said Friday it is reviewing a U.S. proposal for talks on President Trump's 145% tariffs on Chinese imports..

• Tit-for-tat tariffs between the U.S. and China have unsettled global markets, as both sides resist appearing to back down in the ongoing trade war.

•  Immediate resistance is located at 1.3895 (38.2%fib), any close above will push the pair towards 1.3993(50%fib).

• Support is seen at 1.3757(23.6%fib) and break below could take the pair towards 1.3650(Lower BB).

Recommendation: Good to buy around 1.3810, with stop loss of 1.3760 and target price of 1.3900