USD/CAD Technical Analysis: Descending trend-line breakout sets the stage for additional gains to 1.3400 handle

   •  The pair built on Friday's strong upsurge and climbed further beyond the 1.3300 round figure mark through the European trading session on Monday.

   •  The intraday positive momentum assisted the pair to make it through a short-term descending trend-line resistance and climb to over two-week highs.

   •  Moreover, the fact that the pair remains well above important intraday moving averages – 50, 100 & 200-hour SMA, support prospects for additional gains.

   •  Bullish oscillators on 4-hourly/daily charts add credence to the constructive outlook, though slightly overbought conditions on the 1-hourly chart capped gains.

   •  The set-up points to a modest pull-back or a near-term consolidation phase before traders start positioning for further appreciation towards the 1.3400 handle.

USD/CAD 4-hourly chart