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USDCAD : Testing Resistance at 1.0916

USDCAD is strengthening today finding support from the 100 day SMA. There were few fundamentals released today which provided some momentum to the pair. 

Statistics Canada released Retail Sales data according to which the retail sales edged down .1% in March. 7 out of 11 subsectors representing 59% of retail trade posted decline in sales. Economists were expecting an increase of .2%. A separate report from Department of Labor showed that the initial jobless claims increased by 28K missing the economists expectation for an increase of 14K. The 4 week moving average which is considered as the better gauge of labor trends decreased by 1000. 

Although weak Canadian data is weighing on the pair currently but still the weak US data is preventing the pair to move up the resistance at 1.0916. Investors would be further interested in the data coming out later ( Manufacturing PMI at 9:45 AM EDT and Existing Home Sales at 10:00 EDT).