USD/CAD technical analysis: Greenback rising to monthly highs against CAD, above

• USD/CAD is rising to new monthly highs as the USD strengthens across the board.
• The levels to beat for buyers are at 1.3158 and 1.3180.

USD/CAD daily chart

 
USD/CAD broke above the 1.3100 figure and to new monthly highs while trading below its main daily simple moving averages (DSMAs). 

USD/CAD 4-hour chart
 

USD/CAD is challenging the 1.3158 resistance and the 200 SMA. A break above the resistance level can lead to 1.3180, 1.3205 and 1.3232, according to the Technical Confluences Indicator.

USD/CAD 30-minute chart

 
USD/CAD is trading above its main SMAs suggesting bullish momentum in the near term. Immediate support is seen at 1.3130 and 1.3110, according to the Technical Confluences Indicator.

Additional key levels