USD/CAD Technical Analysis: USD/CAD supported near 1.2900 can leave the door open to 1.3000 figure target
|- USD/CAD main bull trend is taking a breather since late June.
- USD/CAD is holding near 1.2900 figure as the market is creating a double bottom with the late August lows. Bulls objective is to reach 1.3000 figure as the RSI, MACD and Stochastics indicators are slowly turning bullish.
- USD/CAD remains vulnerable to the downside and a resumption of the bear leg can invalidate the short-term bullish bias.
Spot rate: 1.2926
Relative change: 0.09%
High: 1.2951
Low: 1.2907
Main trend: Bullish to Neutral
Resistance 1: 1.2959 August 7 low
Resistance 2: 1.3000 figure
Resistance 3: 1.3048 August 14 low
Resistance 4: 1.3108, September 7 low
Support 1: 1.2885 August 28 swing low
Support 2: 1.2855-65 June 6 low - 200-day SMA
Support 3: 1.2800 figure
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