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   “¢   The pair continued gaining positive traction for the fifth consecutive session on Monday and climbed to over one-week tops, levels just above the key 1.30 psychological mark.

   “¢   The positive momentum stalled near a confluence hurdle, comprising of 200-period SMA on the 4-hourly chart and 50% Fibo. level of the 1.3227-1.2782 downfall.  

   “¢   The pull-back, however, might still be categorized as corrective in nature, especially after the recent upsurge of around 230-pips over the past six trading session.  

   “¢   Moreover, technical indicators on the mentioned chart continue to hold in positive territory and support prospects for an extension of the ongoing recovery move from over 4-month lows set last week.


USD/CAD 4-hourly chart

USD/CAD

Overview:
       Last Price:  1.297
       Daily change:  32  pips
       Daily change:  0.247%
       Daily Open:  1.2938
Trends:
       Daily SMA20:  1.2964
       Daily SMA50:  1.3017
       Daily SMA100:  1.3053
       Daily SMA200:  1.2869
Levels:
       Daily High:  1.2956
       Daily Low:  1.2888
       Weekly High:  1.2956
       Weekly Low:  1.278
       Monthly High:  1.32
       Monthly Low:  1.278
       Daily Fibonacci 38.2%:  1.293
       Daily Fibonacci 61.8%:  1.2914
       Daily Pivot Point S1:  1.2898
       Daily Pivot Point S2:  1.2859
       Daily Pivot Point S3:  1.283
       Daily Pivot Point R1:  1.2967
       Daily Pivot Point R2:  1.2996
       Daily Pivot Point R3:  1.3035