USD/CAD Technical Analysis: Continues to find decent support near 100-day SMA, around 1.3200 handle

The pair once again showed some resilience at lower levels and managed to recover the early lost ground to the 1.3200 mark, rather has turned positive for the third consecutive session.

The mentioned support marks a descending trend-line resistance break-point and also coincides with 100-day SMA and should now act as a key pivotal point for the pair's near-term trajectory.

Technical indicators on the daily chart point to a slight positive bias but are yet to gain any meaningful traction on hourly charts and warrant caution before placing any aggressive bullish bets.

Hence, it would prudent to wait for a strong follow-through buying before traders start positioning for a move beyond the 1.3370 immediate resistance towards reclaiming the 1.3400 round figure mark.

USD/CAD daily chart