USD/CAD gains some positive traction despite the prevailing USD selling bias. Weaker oil prices undermined the loonie and seemed to extend some support. The technical set-up support prospects for a further near-term appreciating move. The USD/CAD pair edged higher through the early North-American session and refreshed daily tops, around the 1.3430 region in the last hour, defying broad-based USD weakness. Some renewed weakness in crude oil prices undermined the commodity-linked currency – the loonie – and turned out to be the only factor fueling the ongoing positive momentum. Given that the recent pullback from nine-month tops has been finding some dip-buying near 200-hour SMA, the near-term technical set-up remains tilted in favour of bullish traders. This coupled with the fact that technical indicators on hourly/daily charts have been moving higher in the positive territory further add credence to the pair’s constructive outlook. However, it will be prudent to wait for some follow-through buying, possibly beyond weekly tops near the 1.3440 region, before positioning for any further near-term appreciating move. Above the mentioned hurdle, the pair is likely to accelerate the move towards multi-month tops, around the 1.3465 area, before eventually darting to the key 1.3500 psychological mark. USD/CAD 1-hourly chart Technical levels to watch 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 Oil: Russia attracts all eyes – TDS FX Street 3 years USD/CAD gains some positive traction despite the prevailing USD selling bias. Weaker oil prices undermined the loonie and seemed to extend some support. The technical set-up support prospects for a further near-term appreciating move. The USD/CAD pair edged higher through the early North-American session and refreshed daily tops, around the 1.3430 region in the last hour, defying broad-based USD weakness. Some renewed weakness in crude oil prices undermined the commodity-linked currency – the loonie – and turned out to be the only factor fueling the ongoing positive momentum. Given that the recent pullback from nine-month tops has been finding some… 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.