• USD/CAD strengthened on Friday as stronger dollar and falling commodity prices offset upbeat Canadian retail sales data.
• The U.S. dollar strengthened against a wide array of currencies on Friday, partly recovering losses as investors adjusted their positions ahead of the weekend.
•Canada’s Retail sales jumped by 2.5% even after sales of automotive parts and at dealerships were excluded, Statistics Canada said.
• Looking ahead, markets will focus on the release of the Personal Consumption Expenditures (PCE) index next Friday, which is the Federal Reserve's preferred gauge of inflation.
• Immediate resistance is located at 1.4251(Higher BB), any close above will push the pair towards 1.4281(38.2%fib).
• Support is seen at 1.4162(23.6%fib) and break below could take the pair towards 1.4153(Lower BB).
Recommendation: Good to buy around 1.4190, with stop loss of 1.4120 and target price of 1.4300
