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• USD/CAD slipped lower on Thursday as market digested US inflation and Canadian retail sales adata..
• US Commerce Department data on Friday revealed that the Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, increased by 0.1% in November, following an unrevised 0.2% gain in October.
• Canadian retail sales increased by a solid 0.6% month-over-month in October, slightly below Statistics Canada's preliminary estimate of 0.7% m/m.
• At GMT 16.00,the dollar was down 0.22% at 1.4368 against Canadian dollar .
• Immediate resistance is located at 1.4474(23.6% fib), any close above will push the pair towards 1.4505(Higher BB)
• Support is seen at 1.4280 (38.2%fib) and break below could take the pair towards 1.420(Dec 13th low).
Recommendation: Good to sell around 1.4390, with stop loss of 1.4450 and target price of 1.4300
