FxWirePro: USD/CAD advances as strong U.S. data lifts US dollar

• USD/CAD moved higher Thursday, driven by dollar strength following a better-than-expected set of U.S. economic indicators.

•U.S. retail sales rose more than expected in June, though part of the gain likely reflected tariff-related price increases.

•The Commerce Department reported that retail sales grew by 0.6% in June, following a 0.9% drop in May that remained unrevised.

• Jobless claims fell last week, signaling steady job growth in July, though some laid-off workers face extended unemployment due to slower hiring.

• Thursday’s gains follows market volatility in the prior session after Trump said he was unlikely to fire Fed Chair Powell, though he left the option open and renewed criticism over rate policy.

• Immediate resistance is located at 1.3765(38.2%fib), any close above will push the pair towards 1.3805(Higher BB).

• Support is seen at 1.3676(SMA 20) and break below could take the pair towards 1.3582(23.6%fib).

Recommendation: Good to buy around 1.3740, with stop loss of 1.3660 and target price of 1.3830