However, the quote’s further upside hinges on its ability to stay beyond 1.3545, as well as successful trading beyond the 200-SMA resistance of 1.3635.
In that case, the USD/CAD bulls can aim for the late September highs of around 1.3800 before targeting the previous monthly peak of 1.3861.
Meanwhile, the Loonie pair’s downside break of the 50-SMA, around 1.3500 by the press time, could recall the bears. Though, the sellers must conquer the 1.3485 key support, comprising the lower line of the stated flag, to retake control.
Following that, the latest bottom surrounding 1.3400 may act as an intermediate halt during the theoretical fall targeting 1.3100.
It should be noted that the lows marked in February, close to 1.3260, may act as an extra filter towards the south.
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