USD/CAD technical analysis: On the way down towards 1.3400

• Both USD weakness and the consolidation on oil prices are helping USD/CAD to depreciate.
• The next main pit-stop to the downside is seen at 1.3400.

USD/CAD daily chart

The market is trading in a bull trend above its main simple moving averages (SMAs).

USD/CAD 4-hour chart

USD/CAD is weakening as bears are trying to push the market towards 1.3430 and 1.3400 figure. Resistances are seen at 1.3480, 1.3500/20 and 1.3570. 

Additional key levels