A week-long horizontal area limits the pair’s immediate rise. Short-term ascending triangle also plays its role. Despite witnessing failures to cross 1.3480/85 resistance-region, the USD/CAD pair still trades beyond 23.6% Fibonacci retracement near 1.3477 during early Monday. With the pair’s sustained trading beyond 23.6% Fibonacci retracement of April 17 to 24 upside, chances of its further run-up are bright. However, sustained break of 1.3485 becomes pre-requisite for the quote to aim for 1.3500 and then to April month highs near 1.3520. Should there be increased buying beyond 1.3520, 61.8% Fibonacci expansion of its latest moves near 1.3530, followed by an ascending trend-line joining highs since January 07, at 1.3540, can please buyers? Meanwhile, 23.6% Fibonacci retracement level of 1.3460 adjacent to 1.3445 and 1.3420 can entertain short-term sellers ahead of challenging them with a fortnight old upward sloping support-line, at 1.3395. Additional selling pressure under 1.3395 confirms the ascending triangle break and may open the door for the pair’s slip towards 1.3335/30 horizontal-support. USD/CAD hourly chart Trend: Positive  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 May 6 NY cut FX Street 3 years A week-long horizontal area limits the pair's immediate rise. Short-term ascending triangle also plays its role. Despite witnessing failures to cross 1.3480/85 resistance-region, the USD/CAD pair still trades beyond 23.6% Fibonacci retracement near 1.3477 during early Monday. With the pair's sustained trading beyond 23.6% Fibonacci retracement of April 17 to 24 upside, chances of its further run-up are bright. However, sustained break of 1.3485 becomes pre-requisite for the quote to aim for 1.3500 and then to April month highs near 1.3520. Should there be increased buying beyond 1.3520, 61.8% Fibonacci expansion of its latest moves near 1.3530, followed by an… Top 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.
