It is a big day for the US dollar related pairs due to macroeconomic data on Core retail sales, retail sales, and PPI are due for release. They have not printed in optimistic view for last 3 times. The core PPI printed below expectations for 3 times. In case if it repeats, we can expect USD related pairs to lose steam. At yesterday's session, the USDX rejected the level of 100.00. We advised buying the USDX above 98.30 with targets at 98.50 and 98.64. Bulls can challenge 99.80 in a day or two. Eventually, USD touched 99.99 in 3 days after my recommendation. Our near-term target is seen at 103.00. Intra week support is found at 98.85 and 98.65.

USD/JPY

The dollar edges down after testing the level of 120.85. The pair made a low at 119.75. Support is found at 119.65 and 119.40. Hourly and intra week moving averages turned to bearish. Today, traders' attention is shifting to the US macro data. As usual, the retail and core retails sales are expected to print at negative bias. In case the readings turn positive, it's a big thumb up to the USD. Then, we can expect big moves at today's session. We recommended buying on every dip with sl 119.40. We are going to do the same today. Intraday support is found at 119.40 and resistance is seen at 120.06 and 120.45. In case the price closes below 119.40, the near-term trend can change to bearish. For an intraday view, we recommend buying with sl 119.40 with targets at 120.00 and 120.25. We can expect strong bullish momentum above 120.25. On the down side, we recommend selling below 119.40 with targets at 119.00 and 118.80.

SD/CAD

The dollar edges down after testing the level of 1.2667 that was the highest in 10 days. The pair made a low at 1.2563. It is likely to be a double bottom in the four-hour chart. The intraday trend has shifted to bearish but the intra-week trend favors bulls with sl 1.2545. The pair has been consolidating at 50Dsma 1.2560. In case the price closes below 1.2560, we can expect another 100 pips fall on the downside. Ahead of today's major data, the pair has opened on a bearish note trading above the strong support zone. With the help of the 50Dsma we recommend buying with sl 1.2540 targets at 1.2600 and 1.2645. Bulls can challenge towards previous day's high in case the price manages to stay above 1.2646. We recommend selling 1.2540 with targets at 1.2510 and 1.2460. The price is trading above the descending trend line.

Tarde: Buying with sl 1.2560 applies to safe traders, risky traders can use sl 1.2540.

Note that in case the price closes below 1.2560 today, we can expect another 100 pips fall in a day.