USD/CAD eases from the resistance line of a short-term bullish chart formation.
100 and 200 HMAs add to the upside filters.
A downside break below 1.3190 will recall the bears targeting 1.3100.

USD/CAD fades upside momentum while easing to 1.3222 during the pre-Tokyo open Asian trading on Tuesday. The loonie pair portrays a descending triangle formation following the previous day’s bounce off 1.3192. Also increasing the odds of its upside is the MACD histogram that teases the bulls.

However, a clear break beyond the said formation’s resistance near 1.3235 becomes necessary for the pair to confirm further upside. In doing so, 100-HMA and 200-HMAs, respectively around 1.3250 and 1.3290, will be on the buyers’ radars.

In a case where the pair manages to cross 1.3290, 1.3350 and August 07 peak surrounding 1.3400 could return to the charts.

Alternatively, a downside break of the bullish formation’s support near 1.3190 will not only disappoint the optimists but will also strengthen the bears to attack 1.3100 mark comprising late-December 2019 low and January 09, 2020, top.

USD/CAD hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	1.3222
Today Daily Change	7 pips
Today Daily Change %	0.05%
Today daily open	1.3215

Trends
Daily SMA20	1.3344
Daily SMA50	1.3481
Daily SMA100	1.3715
Daily SMA200	1.3532

Levels
Previous Daily High	1.3265
Previous Daily Low	1.3192
Previous Weekly High	1.3395
Previous Weekly Low	1.3192
Previous Monthly High	1.3646
Previous Monthly Low	1.3331
Daily Fibonacci 38.2%	1.3247
Daily Fibonacci 61.8%	1.3231
Daily Pivot Point S1	1.3183
Daily Pivot Point S2	1.3151
Daily Pivot Point S3	1.311
Daily Pivot Point R1	1.3256
Daily Pivot Point R2	1.3297
Daily Pivot Point R3	1.3329

USD/CAD Price Analysis: Bulls eye weekly descending triangle confirmation above 1.3200