- USD/CAD bulls attack the week’s high of 1.3152 flashed the previous day.
- Monday’s lows, 200-HMA challenge immediate upside ahead of a falling trend line from October 15.
- Sellers can look for entries below the nearby support line.
USD/CAD extends Wednesday’s upbeat performance while picking up the bids near 1.3150 during the early Asian session on Thursday.
Although bullish MACD and a short-term rising trend line portray the bulls’ return from a six-week low, multiple bottoms marked on Monday join 200-HMA around 1.3150/55 to challenge the pair’s further upside.
Even if the USD/CAD buyers manage to cross 1.3155, a one-week-old resistance line, at 1.3170, will challenge the bulls.
As a result, bears shouldn’t lose hopes unless prices stay below 1.3170. However, any major entries will be ideal if taken after the break of the adjacent support line near 1.3120.
Following that, the multi-day low, marked yesterday, near 1.3080, will probe the USD/CAD bears targeting the September month’s trough close to the 1.3000 threshold.
USD/CAD hourly chart
Trend: Pullback expected
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