The Canadian dollar softened as June’s retail sales decelerated. The pair previously came under pressure at 1.2980. A close above this supply zone equally a daily resistance would flush the remaining selling interest out and open the door for a sustained rebound. The greenback has secured support over 1.2880, which is a sign of commitment from the buy side. 1.3100 under July’s peak is the next target should the rally gain traction. Its breach could resume the uptrend in the medium-term. 1.2930 is the closest support.
