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FxWirePro: USD/CAD steadies above 1.3701, retains bid tone

• USD/CAD fired on  Tuesday after preliminary data showed a decline in factory sales, while uncertainty over North American trade talks weighed on sentiment.

• The United States-Mexico-Canada Agreement, which protects most Canadian exports from U.S. tariffs, is scheduled for review ahead of the July 1 deadli.

• Preliminary estimates showed Canadian factory sales likely declined 3.3% in January from December, mainly due to weaker transportation equipment and machinery sales..

• Oil prices, a key driver of Canada’s export, fell 0.8% to $65.81 per barrel as traders awaited updates from nuclear talks between the U.S. and Iran.n.

•  Immediate resistance is located at 1.3730(50%fib), any close above will push the pair towards 1.3755(Higher BB).

• Support is seen at 1.3634 (SMA 20) and break below could take the pair towards 1.3618(38.2%fib).

Recommendation: Good to buy around 1.3670, with stop loss of 1.3600  and target price of 1.3760

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