USD/CAD - Bullish if breaks above 1.3410
Yesterday, the Canadian Dollar rose against its US counterpart to close at 1.3333, after data reported a stronger-than-expected rebound in Canadian retail sales in January. On the 1H chart, the USDCAD pair recently crossed its EMA 200 from below, reflecting at a bullish technical picture. Also, the MACD indicator is heading higher further affirming the above stance. The key technical obstacle is situated at the 1.3390 level, followed by the psychological 1.3400 and 1.3410 levels. A surge above the latter might lead to bullishness in the pair. On the contrary, key support resides at the 1.3365 level where EMA 200 is placed, a breach below which might trigger further negativity in the pair, targeting the next supports at the 1.3355 and 1.3345 where EMA 55 is trading.