Tests 38.2% and 1.3100 level
The USDCAD is moving sharply higher after the retail sales miss (and helped by a stronger dollar today too).
THe price has moved back above the 100 bar MA on the 4-hour chartt at 1.30775 and above the highs for the week. The pair is testing the 38.2% of the move down from the June 21 high (intermediate recent swing high) and the 1.31000 level (now breaking as I type). That yellow area is now close support for the pair.
Taking a broader look on the 4-hour chart, the pair targets teh 1.3122 and then a ceiling area at the 1.3139-47 area (see yellow area above).
