USD/CAD remained volatile around 1.35245. Retail sales in Canada fell slightly by 0.2% in June. Among the 9 sub-sectors, only 3 saw growth in sales: auto and parts dealers, sporting goods stores and gas stations.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum remains volatile and downward, and the short-term decline may continue. The overall market is in a bearish trend. The MACD indicator maintains a downward trend, and the RSI indicator is hovering around the 50 balance line;
Resistance levels: 1.35522 1.35689
Support levels: 1.35063 1.34880
Trading strategy: bearish below 1.35344, target 1.35063 1.34880
Alternative strategy: Bullish above 1.35344, target 1.35522 1.35689