USD/CAD bulls struggle to make it through 1.3300 mark. Dip-buying should help limit any meaningful downfall. The USD/CAD pair struggled to build on its recent positive move beyond the 1.3300 round-figure mark and witnessed a modest intraday pullback from two-month tops. Given the recent break through a short-term ascending trend-channel and a subsequent move beyond the very important 200-day SMA, the set-up still favours bullish traders. However, slightly overbought conditions on the daily chart seemed to be the only factor capping any further positive move amid a goodish recovery in crude oil prices. Hence, it will be prudent to wait for some near-term consolidation or a possible pullback to the mentioned trend-channel resistance before initiating fresh bullish positions. Failure to defend the said confluence support – currently near the 1.3230 region – now seems to accelerate the slide further towards 100-day SMA support near the 1.3180 zone. USD/CAD daily chart 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 Gold New York Price Forecast: XAU/USD losing steam, trading sub-$1570/oz FX Street 2 years USD/CAD bulls struggle to make it through 1.3300 mark. Dip-buying should help limit any meaningful downfall. The USD/CAD pair struggled to build on its recent positive move beyond the 1.3300 round-figure mark and witnessed a modest intraday pullback from two-month tops. Given the recent break through a short-term ascending trend-channel and a subsequent move beyond the very important 200-day SMA, the set-up still favours bullish traders. However, slightly overbought conditions on the daily chart seemed to be the only factor capping any further positive move amid a goodish recovery in crude oil prices. Hence, it will be prudent to wait… 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.
