FxWirePro: USD/CAD upside limited, scope for a dive through a key fib

• USD/CAD strengthened on  Monday as investors weighed uncertainty over U.S. trade deals ahead of Washington's looming July 9 deadline.

• Most U.S. trade partners are set to face higher tariffs once the 90-day moratorium on President Trump’s “Liberation Day” reciprocal duties ends on Wednesday. On Sunday, Trump clarified that the newly announced tariffs would be implemented from August 1.

 •The U.S. enters a quiet data week, with attention focused on the release of the Federal Reserve’s June 17–18 meeting minutes. Weekly jobless claims are the only significant economic indicator scheduled. Fed officials Alberto Musalem, a voting member, and Mary Daly are both slated to speak.

 • Canada’s economic calendar features the June Ivey PMI on Tuesday and the closely watched employment report on Friday.

• Immediate resistance is located at 1.3708(38.2%fib 0), any close above will push the pair towards 1.3791(Higher BB).

• Support is seen at 1.3543(23.6%fib) and break below could take the pair towards 1.3521(Lower BB).

Recommendation: Good to sell around 1.3660, with stop loss of 1.3730 and target price of 1.3550