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   “¢   The pair witnessed a sharp retracement from 1-1/2-month-old ascending trend-channel resistance following the Fed Chair Jerome Powell’s dovish comment on Wednesday.

USD/CAD daily chart

   “¢   The corrective slide, however, showed some resilience below 100-hour SMA, albeit persistent USD selling pressure failed to assist the pair to register any meaningful recovery.

1-hourly chart

   “¢   Diverging technical indicators on hourly/daily charts haven’t been supportive of any firm near-term direction and thus, warrant some caution before initiating fresh bearish positions.  

   “¢   Meanwhile, a sustained weakness below 100-hour SMA might prompt some fresh technical selling and turn the pair vulnerable to head towards challenging the trend-channel support.

USD/CAD

Overview:
       Today Last Price:  1.3255
       Today Daily change:  -12  pips
       Today Daily change %:  -0.0904%
       Today Daily Open:  1.3267
Trends:
       Previous Daily SMA20:  1.3197
       Previous Daily SMA50:  1.308
       Previous Daily SMA100:  1.3077
       Previous Daily SMA200:  1.2994
Levels:
       Previous Daily High:  1.336
       Previous Daily Low:  1.3242
       Previous Weekly High:  1.332
       Previous Weekly Low:  1.3142
       Previous Monthly High:  1.3172
       Previous Monthly Low:  1.2783
       Previous Daily Fibonacci 38.2%:  1.3287
       Previous Daily Fibonacci 61.8%:  1.3315
       Previous Daily Pivot Point S1:  1.322
       Previous Daily Pivot Point S2:  1.3172
       Previous Daily Pivot Point S3:  1.3101
       Previous Daily Pivot Point R1:  1.3338
       Previous Daily Pivot Point R2:  1.3408
       Previous Daily Pivot Point R3:  1.3456