FxWirePro: USD/CAD slips from three-month high on Powell comments

• USD/CAD slipped from three month high on Friday as dollar fell   after Federal Reserve Chair Jerome Powell pointed to a possible rate cut at the central bank's September .

•Upcoming U.S. payroll and inflation data, scheduled before the Fed’s September rate decision, will be key in shaping expectations for future policy.

•   Trump has criticized Powell for being slow to cut interest rates, and traders anticipate he may appoint a more dovish successor when Powell’s term ends in May.

• Powell could remain on the Board of Governors, limiting the number of appointments Trump can make and potentially constraining efforts to shift the board toward a more dovish stance unless additional resignations occur.

•  Meanwhile, Canadian retail sales rose 1.5% in June, rebounding from a tariff-related slowdown in May, driven by stronger sales at food and beverage stores.

• Immediate resistance is located at 1.3848(50%fib), any close above will push the pair towards 1.3892(Higher BB).

• Support is seen at 1.3757(SMA 20) and break below could take the pair towards 1.3717(38.2%fib).

Recommendation: Good to buy around 1.3800, with stop loss of 1.3740 and target price of 1.3910