• USD/CAD struggles to defend the first daily loss in five inside a bearish chart formation.
• Sustained trading beyond 50-SMA, firmer oscillators prod bears.
• 200-SMA appears crucial hurdle for Loonie pair buyers.

USD/CAD picks up bids to pare intraday losses around 1.3510, after snapping four-day uptrend earlier in Asia. In doing so, the Loonie pair bounces off the 50-bar Simple Moving Average (SMA) but stays within a two-week-old bear flag chart formation.

That said, the bullish MACD signals and the firmer RSI (14), not overbought, suggest the USD/CAD pair’s further upside towards challenging the stated bearish chart pattern, by poking the flag’s top line of near 1.3545 by the press time.