USD/CAD technical analysis: Greenback is sidelined near multi-month lows, sub-1.3080

• USD/CAD is looking for directions as the market is hovering near the lows.
• Support is seen at the 1.3040 and 1.3016 levels.

USD/CAD daily chart

USD/CAD is trading near multi-month lows as the market is trading below its main daily simple moving averages (DSMAs).

USD/CAD 4-hour chart

The market is trading just below 1.3080 and its main SMAs. The level to beat for bears is 1.3040 support followed by 1.3040 and 1.3016, according to the Technical Confluences Indicator.

USD/CAD 30-minute chart

The market is trading sideways below the 100 and 200 SMAs. Resistances are seen near 1.3080, 1.3100 and 1.3150, according to the Technical Confluences Indicator.

Additional key levels