USD/CAD Technical Analysis: Gearing up for a move back towards 1.3050-60 supply zone

   •  The pair's intraday up-move picked up the pace during the early North-American session, with bulls pushing it through and further beyond 1.3200 handle. 

   •  A decisive move beyond 100/200-hour SMA and 50% Fibonacci retracement level of the last week's slide was seen as a key trigger for bullish traders.

   •  Technical indicators on the 1-hourly chart have already started gaining positive momentum and support prospects for further intraday up-move.

   •  A follow-through buying beyond 61.8% Fibonacci retracement level will add credence to constructive outlook and set the stage for a retest of multi-month tops.
 

USD/CAD 1-hourly chart