FxWirePro: USD/CAD neutral in the near-term, scope for downward resumption

• USD/CAD traded in tight range  on Tuesday   as investors awaited clarity on U.S. tariff negotiations amid ongoing economic uncertainty.

•  On Monday, the White House said President Donald Trump and Chinese leader Xi Jinping will likely speak this week to ease rising trade tensions..

• Investors will closely watch the Trump-Xi call, as tariff-driven trade tensions between the U.S. and China have triggerd major volatility in global markets and business sentiment..

• Market focus also shifting to the Bank of Canada’s upcoming interest rate decision scheduled for Wednesday.

•Investors   are closely watching for any signals on whether the central bank will adjust borrowing costs amid ongoing concerns about inflation, economic growth, and global uncertainties.

• Immediate resistance is located at 1.3745(May 26th high), any close above will push the pair towards 1.3842(50%fib).

• Support is seen at 1.3677(23.6%fib) and break below could take the pair towards 1.3626(Lower BB).

Recommendation: Good to sell around 1.3720, with stop loss of 1.3850 and target price of 1.3650