The US Dollar Index (DXY) is probing the same moving average that capped strength earlier in the month. The double bottom neckline at 80.40 has been broken and clearing 130-day moving average resistance would expose the November high. Meanwhile, only a daily close below the 20 & 100-day moving averages would compromise the bullish structure.
The Canadian Dollar was the weakest performer following weaker than expected wholesale sales data. The trade-wighted index was down over 1% on the day. The USD/CAD now looks to re-test the 100-day moving average since finding a foothold near parity. The CAD/JPY broke out of a one month rising wedge and will attempt to carve out a higher low by the 50-day moving average and 50% retracement near 81.50.
