USD/CAD Technical Analysis: 1.3245 becomes immediate challenge ahead of aiming 1.3295-1.3300 region

• USD/CAD trades around 1.3230 at the beginning of the Asian session on Friday.
• The pair recently recovered from late-January highs but an immediate downward sloping trend-line joining a week’s high, at 1.3245, may challenge the up-moves.
• Given the pair’s successful break of 1.3245, it becomes capable of aiming the 1.3295-1.3300 resistance-region comprising another descending resistance-line connecting highs marked since January 24 and 38.2% Fibonacci retracement of the pair’s late-December to early February downturn.
• Should there be additional upside past-1.3300, 1.3330 and 50% Fibonacci retracement near 1.3365 can please the buyers.
• Meanwhile, 1.3165 can offer immediate support to the pair during its pullback, a break of which can recall 1.3120 and 1.3080 rest-points on the chart.
• In a case where prices keep drowning past-1.3080, the current month low around 1.3065 may offer an intermediate halt, which if ignored could trigger the pair’s plunge to 1.2970, including 61.8% Fibonacci expansion of its moves since the end of December 2018.

USD/CAD 4-Hour chart