USD/CAD Technical Analysis: Slips below 100-hour SMA, bears eyeing a sustained breakthrough 1.3200 mark

   •  The pair extended its retracement slide from a one-month-old ascending trend-channel resistance and has now slipped below 100-hour SMA for the first time in nearly since last Thursday.

   •  Technical indicators on the 1-hourly chart have been gaining bearish momentum and thus, support prospects for an extension of the pair's overnight rejection from the 1.3260-65 supply zone. 

   •  Weakness below 23.6% Fibonacci retracement level of the 1.3056-1.3264 upsurge, leading to a subsequent breakthrough the 1.3200 handle will further add credence to the negative outlook. 

   •  However, the ascending trend-channel points to a well-established near-term bullish trend and hence, any meaningful fall is more likely to get bought into near 50% Fibo. level support.
 

USD/CAD 1-hourly chart