FxWirePro: USD/CAD inches lower, set to stay on back foot

• USD/CAD inched lower on Tuesday   as  investors awaited any sign of the U.S. opening up for negotiations over some of the aggressive tariffs.

• Concerns over a global trade war following U.S. President Donald Trump's April 2 tariff announcement have sparked recession fears

• White House economic adviser Kevin Hassett said on Tuesday that U.S. trade negotiators are prioritizing allies and focusing on major trading partners with significant trade surpluses with the U.S.

• Looking ahead, investors will focus on the U.S. consumer price inflation reading on Thursday, which could offer more clues on the inflation trajectory in the world's largest economy.

•  Immediate resistance is located at 1.4321 (38.2%fib), any close above will push the pair towards 1.4442(Higher BB).

• Support is seen at 1.4151(50%fib) and break below could take the pair towards 1.4035(April 3rd low).

Recommendation: Good to sell around 1.4350, with stop loss of 1.4400 and target price of 1.4230