USD/CAD Technical Analysis: Pullback from the 1.3150 trendline resistance shifts market attention to a broader supportline

USD/CAD daily chart

• The USD/CAD pair trades little changed around 1.3130 on early Wednesday.
• The pair has strong resistance confluence near 1.3205-1.3210 that includes 100-day simple moving average (SMA) and a month old descending trend-line.
• Break of 1.3210 on a daily closing can recall the 1.3280 and the 50-day SMA level of 1.3335 on the chart.
• Alternatively, a yearlong support-line at 1.3040 seems crucial support for the pair, breaking which 1.3000 and the 1.2910 may gain sellers’ attention.

USD/CAD 4-hour chart

• In addition to the month old trend-line resistance, an immediate downward sloping resistance line, at 1.3145 now, favors the pair’s decline to the 1.3065 and then to the 1.3040 support-line.
• On the upside clearance of 1.3145, the 1.3180 may offer an intermediate halt to the pair’s rally towards 1.3210 resistance-line.

USD/CAD Hourly chart

• An immediate ascending support-line can challenge short-term sellers around 1.3110 prior to please them with the 1.3100 and the 1.3065.
• The 1.3160 seem the following resistance to break past-1.3145 adjacent trend-line.  Should the pair manage to conquer 1.3160, it can then aim for the 1.3200 round-figure.