•USD/CAD strengthened on Friday as downbeat Canadian retail sales data and stronger greenback weighed on loonie.
• Canadian retail sales declined 0.6% in January to C$69.36 billion ($48.42 billion), as weaker sales at motor vehicle and parts dealers outweighed gains at gasoline and fuel vendors, Statistics Canada reported Friday.
• Core retail sales, excluding gasoline stations and motor vehicle & parts dealers, fell 0.2% in January, indicating broader weakness in consumer spending.
•At GMT 16:37, the pair was trading up 0.15 percent at 1.4344
• Immediate resistance is located at 1.4386 (50%fib), any close above will push the pair towards 1.4468(38.2%fib).
• Support is seen at 1.4311(61.8%fib).) and break below could take the pair towards 1.4237(Lower BB).
Recommendation: Good to buy on dips around 1.4320, with stop loss of 1.4200 and target price of 1.4400
