FxWirePro: USD/CAD falls as market reacts to Trump’s trade policy shift

• USD/CAD fell on Wednesday as the Canadian dollar strengthened after Trump granted a one-month tariff exemption to some automakers from Canada and Mexico.

• The announcement came after a phone call in which Trump says he told Canadian Prime Minister Justin Trudeau that his country is not doing enough to stop fentanyl smuggling.

•On the economic data front, Canada's PMI data fell to 46.6 in February from 49 a month earlier, revealing a deepening downturn in the country's services sector.

•Meanwhile, U.S. private payrolls posted their slowest growth in seven months in February.

 •At GMT 20:45, the pair was trading down 0.34 percent  at 1.4337

•  Immediate resistance is located at 1.4460(50%fib), any close above will push the pair towards 1.4525(Higher BB).

• Support is seen at 1.4335(61.8%fib) and break below could take the pair towards 1.4261 (Jan 20th low).

Recommendation: Good to buy  around 1.4335, with stop loss of 1.4300  and target price of 1.4400