USD/CAD gains ground for the second consecutive session, maintaining its position near the 1.3600 psychological level during the European session on Thursday. A decisive breakthrough above the latter could open the doors for the USD/CAD pair to explore the barrier around 23.6% Fibonacci retracement at 1.3623 aligned with the seven-day Exponential Moving Average (EMA) at 1.3626.The improved US Dollar (USD) could inspire the bulls of the USD/CAD pair to approach the major level at 1.3650, followed by the weekly high at 1.3661 if it breaks above the mentioned resistance.However, the technical indicators for the USD/CAD pair support the current downward trend. The Moving Average Convergence Divergence (MACD) line is below the centerline and shows the divergence below the signal line, indicating a bearish momentum in the USD/CAD pair.Furthermore, the 14-day Relative Strength Index (RSI) below 50 indicates a dovish sentiment, indicating that the USD/CAD pair could meet the support around the major level at 1.3550 before the weekly low at 1.3541.If the USD/CAD pair convincingly falls below this level, it might prompt bearish momentum, potentially guiding the pair toward the psychological support zone near 1.3500. USD/CAD: Daily Chart USD/CAD: MORE TECHNICAL LEVELS
More By This Author:GBP/USD Grapples To Extend Gains Near 1.2700, US PCE Price Index Eyed
GBP/USD Attracts Some Buyers Near 1.2700, US PCE Data Looms
AUD/USD Holds Above 0.6600, Eyes On Chinese PMI, Core US PCE Data