USDCAD on the radar ahead of retail sales tomorrow.
The USDCAD had a false breakdown early this year, pullbacks have been minimal thus far. The 200dma held once again the last couple days. Today we had an outside day candle formation which could signal a reversal higher. Retail sales in Canada are due tomorrow. 1.3320’s are really important resistance now for the bears to hold. False breakdowns like the one earlier this year tend to lead to breakouts. In this case, above the 1.3330 level would be the breakout higher.