• USD/CAD bull trend is on hold since June 27 as the pair is in pullback mode. 
  • USD/CAD is trading below its main simple moving averages and below 1.3020. Bears are at work trying to form a bear channel. Bear targets are 1.3000 and 1.2959 August 7 swing low. 
  • A bull breakout above 1.3070 would invalidate the short-term bearish bias. 
  • USD/CAD 15-minute chart

     

    Spot rate: 1.3010
    Relative change:  -0.07% 
    High:  1.3069
    Low: 1.3006

    Trend: Bullish 
    Short-term trend:  Bearish below 1.3070

    Resistance 1:  1.3022 July 25 low
    Resistance 2:  1.3048-1.3066 area, August 14 low and July 9 low
    Resistance 3:  1.3100 figure 
    Resistance 4:  1.3120-1.3155 zone, supply/demand level and June 18 low
    Resistance 5:  1.3172 August 13 swing high 

    Support 1: 1.3000 figure
    Support 2: 1.2959 August 7 swing low
    Support 3: 1.2900 figure

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