FXstreet.com (Barcelona) - The Dollar has dropped sharply during Monday's European session and reversal at 1.0700 has triggered a 150 pip decline to 1.0545 session low ahead of the release of retail sales figures, and the pair remains right above the mentioned low at the moment of writing.

Below 1.0545 session low, next support levels lie at 1.0480/85 (Dec 10 and 11 low) and 1.0430 (Dec 2 and 4 low). On the upside, resistance levels lie at 1.0650/60 (Dec 7/15) and above here, 1.0700 session high) and 1.0745 (Dec 17 high).

Canada retail sales have advanced 0.8% in October, from September, while excluding autos, sales have gone 0.2% up, figures broadly in line with market consensus.