USD/CAD Technical Analysis: Dip-buying to help limit any deeper retracement below 1.3100 handle

   •  The pair has been trending higher along an upward sloping trend-line, extending since early Oct., which now coincides with 100-day SMA support.

   •  The said confluence region, currently near the 1.3075 region, might continue to attract some dip-buying interest and help limit any immediate sharp fall.

   •  Technical indicators on the daily chart have managed to hold in bullish territory and further add credence to the near-term constructive outlook for the pair. 

   •  However, a convincing break through the mentioned support might negate the positive bias and turn the pair vulnerable to weaken further below the key 1.30 psychological mark.
 

USD/CAD daily chart