“¢ The pair built on this week’s goodish bounce from 100-day EMA and continued gaining positive traction for the second consecutive session on the last trading day of the week.
“¢ The mentioned support coincides with a short-term descending trend-line resistance break-point and should act as a key pivotal point for the pair’s near-term directional move.
“¢ Bullish oscillators on the daily chart support prospects for additional gains, albeit slightly overbought conditions on the 1-hourly chart seemed to cap any meaningful up-move.
“¢ Hence, any pull-back to 1.3380-75 region might now be seen as a buying opportunity for an eventual bullish target towards monthly swing highs, around the 1.3465-70 region.
USD/CAD daily chart
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