100 day MA at 1.27100. Trades to 1.2750 after weaker data

The USDCAD has shot higher (weaker CAD) after the weaker than expected retail sales (-0.8% and ex-auto tumbled -1.8% erasing the prior month 1.7% increase).

The price move took the price back above the 100 day MA at 1.2710. The price is trading up at 1.2747 currently. That is more bullish. We are back in the meat of the range trading that confined the range in parts of October, all of November and most of December. The market chopped around between 1.2920 on the top to 1.2648 on the bottom. The midpoint comes in around 1.2784.

Drilling to the hourly chart, the price moved above a trend line at 1.2733. That is a close barometer for bullish above and intraday bearish below.