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FxWirePro: USD/CAD eases towards key support after Trump rate, trade comments

• USD/CAD slipped lower on Friday as greenback attracted sellers across the board  after Trump remarks.

• President Donald Trump's suggestion of a more lenient approach to tariffs against China increased trade policy uncertainty and unnerved   markets.

• On the data front,Canadian factory sales rose 0.6% in December from November, mainly driven by gains in the petroleum, coal, and food subsectors, according to a flash estimate from Statistics Canada.

  •At GMT 17.23, the pair was trading down 0.37 percent  at 1.4331.

•  Immediate resistance is located at 1.4408(Jan 23rd high), any close above will push the pair towards 1.4005(236%fib).

• Support is seen at 1.4317 (38.2%fib) and break below could take the pair towards 1.42700(Lower BB).

Recommendation: Good to buy  around 1.4320, with stop loss of 1.4250 and target price of 1.4390

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