FxWirePro: USD/CAD hits two month high as Canadian as retail sales post monthly decline

• USD/CAD advanced to its highest level in two months on Thursday as the greenback strengthened across the board, while Canadian retail sales data failed to ease concerns about the economic outlook..

• The US dollar climbed  against major currencies as investors increased bets on additional Fed rate increases following a run of robust economic data.

 • Canadian retail sales fell 0.7% month-on-month in July, slightly less than analysts had expected, as declines at general merchandise retailers weighed on overall sales, data showed on Thursday..

• Retail sales fell to C$73.70 billion ($52.25 billion) in July from C$74.25 billion in June, Statistics Canada said.

• Oil prices rose as US-Iran diplomatic talks showed little progress, while uncertainty over a possible US ban on diesel exports added to supply concerns.

•  Immediate resistance is located at 1.4169(Higher BB), any close above will push the pair towards 14228(23.6%fib.).

• Support is seen at 1.4096 (38.2%fib) and break below could take the pair towards 1.4057(Sep 23rd low).

Recommendation: Good to buy  around 1.4120  with stop loss of 1.4000   and target price of 1.4220