USD/CAD has lost nearly 100 pips from high of 1.32495 after slightly better than anticipated Canadian retail sales. Canadian retail sales m/m came at -0.1% compared to forecast -0.3% but better than previous month -0.9%. The pair hits low of 1.31213 after breaking major support 200- day MA at 1.3150. It is currently trading around 1.31250.
On the higher side, near term resistance is around 1.3170 and any break above targets 1.3230/1.3265/1.3300.
The near term support is around 1.31185 and any violation below will drag the pair to next level till 1.3086.
It is good to sell on rallies around 1.3155-60 with SL around 1.3200 for the TP of 1.3085/1.300.
