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   “¢   The pair’s sharp intraday bounce from 100-hour SMA failed near an ascending trend-line resistance, extending from the European trading session last Thursday.

   “¢   Technical indicators on the 1-hourly chart have started losing positive momentum but retained their bullish stance on 4-hourly/daily charts, supporting prospects for additional gains.

   “¢   However, it would be prudent to wait for a convincing breakthrough the mentioned trend-line resistance before positioning for any further near-term appreciating move.

   “¢   Having said that, a sustained weakness below 100-hour SMA will negate the constructive outlook and prompt some fresh technical selling, dragging the pair back towards sub-1.3200 level.


USD/CAD 1-hourly chart

USD/CAD

Overview:
       Today Last Price:  1.3244
       Today Daily change:  -12  pips
       Today Daily change %:  -0.0905%
       Today Daily Open:  1.3256
Trends:
       Previous Daily SMA20:  1.3182
       Previous Daily SMA50:  1.3067
       Previous Daily SMA100:  1.3073
       Previous Daily SMA200:  1.2986
Levels:
       Previous Daily High:  1.3258
       Previous Daily Low:  1.3187
       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%:  1.3231
       Previous Daily Fibonacci 61.8%:  1.3214
       Previous Daily Pivot Point S1:  1.321
       Previous Daily Pivot Point S2:  1.3163
       Previous Daily Pivot Point S3:  1.3139
       Previous Daily Pivot Point R1:  1.328
       Previous Daily Pivot Point R2:  1.3304
       Previous Daily Pivot Point R3:  1.3351