• USD/CAD edged lower on Thursday as Canadian dollar was supported by jump in Oil and upbeat Canadian retail sales data
• Canada's retail sales rose 1% in May, matching expectations, as sales at gasoline stations and fuel vendors led broad-based gains, data showed on Thursday.
• Core retail sales, which exclude sales at gasoline stations and motor vehicle and parts dealers, increased 0.9% driven by higher sales at general merchandise retailers..
•The price of oil, one of Canada's major exports, jumped 6.2% to $92.40 a barrel after Yemen's Houthis said they had attacked two Saudi oil tankers in the Red Sea, adding to concerns over global supply disruptions.
•Meanwhile,Canada will do whatever it takes to defend its workers, farmers and businesses in a trade war with the U.S., Prime Minister Mark Carney told a meeting of provincial premiers.
• Immediate resistance is located at 1.4113(38.2%fib), any close above will push the pair towards 1.4138(SMA 20).
• Support is seen at 1.4013 (50%fib) and break below could take the pair towards 1.3946 (Lower BB).
Recommendation: Good to buy around 1.4070, with stop loss of 1.4000, and target price of 1.4120
