USD/CAD looks to extend recovery gains above 1.3600. Technical set up favors the bulls, a break above 200-HMA eyed. Upbeat US NFP report could bolster the bullish momentum. USD/CAD is trying hard to extend its recovery momentum beyond 1.3600, as the horizontal 200-hourly Simple Moving Average (HMA) at 1.3607 appears to be a tough nut to crack for the bulls. As observed on the hourly chart, the spot has confirmed a descending triangle bullish breakout in early Asia, following an hourly close above the 1.3595. With bulls in form, the CAD pair also took out the next 50-HMA resistance at 1.3604. The further upside will now gain momentum only on a break above the aforesaid key hurdle of 200-HMA. A failure to break through the latter could see the price retracing towards the falling trendline resistance-turned-support at 1.3590, where the upward sloping 21-HMA also lies. The bullish bias will remain in place for the major so long as it holds above the 21-HMA. The hourly Relative Strength Index (RSI) trades flat but above the midline, suggesting that the upside bias still remains intact heading into the critical US Non-Farm Payrolls (NFP) data release. USD/CAD hourly chart USD/CAD additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next FX option expiries for July 2 NY cut FX Street 3 years USD/CAD looks to extend recovery gains above 1.3600. Technical set up favors the bulls, a break above 200-HMA eyed. Upbeat US NFP report could bolster the bullish momentum. USD/CAD is trying hard to extend its recovery momentum beyond 1.3600, as the horizontal 200-hourly Simple Moving Average (HMA) at 1.3607 appears to be a tough nut to crack for the bulls. As observed on the hourly chart, the spot has confirmed a descending triangle bullish breakout in early Asia, following an hourly close above the 1.3595. With bulls in form, the CAD pair also took out the next 50-HMA resistance at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
