The USDCAD high yesterday was 1.3626 which is exactly where the November upward trend line comes in and will continue to act as resistance to the topside. After a further sell-off in oil and Trump reminding us of his discontent with the Canadian dairy industry leverage accounts were happy to sell CAD vs both USD and JPY yesterday and the pullback from the highs in USDCAD most likely due to some short term profit taking and a bounce in oil form the lows. Expect USDCAD to remain relatively well supported on dips but prefer to wait for a broader pull-back to buy. Retail sales today may drive some short term volatility but is likely to be overlooked longer term. Support comes in back towards 1.3500 ahead of 1.3455/65 and 1.3400.