Canadian retail sales rose and CPI rose better than expected. Canadian GDP data came unchanged in Oct at 0% compared to forecast of 0.2%. A slight increase in the growth of service sector was offset by decline in goods- producing industries.
Technically, major short term support is around 1.26840 ( joining 1.24329 and 1.26237) and any break below will drag the pair till 1.2600/1.24300. Short term weakness only below 1.2430. Overall invalidation only below 1.2060. The minor support is around 1.2680 ( support)/1.2620.
On the higher side, near term major resistance is around 1.2755 (50- day MA) and any break above will take the pair to next level till 1.2800/1.2880/1.2925. Short term invalidation only above 1.2925.
It is good to sell on rallies around 1.2740-45 with SL around 1.2800 for the TP of 1.2600.