USD/CAD Technical Analysis: Buyers need to clear descending triangle to aim for 1.3445

• USD/CAD is on bids around 1.3400 during early Tuesday.
• The quote has been struggling between the 1.3390 support and a downward sloping trend-line, at 1.3415 now, forming part of the short-term descending triangle.
• Hence, buyers need to overcome 1.3415 resistance in order to aim for 1.3445 and then escalate the recovery towards the present month high near 1.3470.
• If bulls dominate after 1.3470, 61.8% Fibonacci expansion (FE) level of latest moves surrounding 1.3500 can become their favorite.
• On the downside, pair’s decline beneath 1.3390 support-line may not hesitate to drag it to 1.3350 and 38.2% Fibonacci retracement of late-February to March advances, at 1.3320.
• Additionally, pair’s weakness under 1.3320 can avail 1.3300 and 1.3275 as follow-on rests during the further downturn.

USD/CAD hourly chart