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USD/CAD has lost nearly 50 pips from high of 1.32294 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 1.31866 and shown a minor recovery. It is currently trading around 1.31948.
On the higher side, near term resistance is around 1.3230 and any break above targets 1.3265/1.3300.
The near term support is around 1.3180 and any violation below will drag the pair to next level till 1.3150/1.3079.
It is good to sell on rallies around 1.3203- 1.3205 with SL around 1.3265 for the TP of 1.3078.
