USD/CAD Technical Analysis: USD/CAD bulls getting ready to resume the bull trend

USD/CAD bulls are taking the lead as the week is coming to an end. Bulls are currently trying to breach the key 1.3120-1.3155 resistance zone. If bulls are successful the 1.3200 figure and 1.3271 June 29 high can become the next targets in the coming sessions.
Support are seen near 1.3100-1.3120 area and 1.3053-1.3066 area.
USD/CAD has been in consolidation mode since mid-June and a breakout above 1.3155 would likely see USD/CAD bull trend resuming.

Flavio Tosti Independent Analyst

USD/CAD 15-minute chart

USD/CAD daily chart

Spot rate: 1.3148
Relative change: 0.75%
High: 1.3152
Low: 1.3040

Trend: Bullish

Resistance 1: 1.3155 June 18 low
Resistance 2: 1.3200 figure
Resistance 3: 1.3271 June 29 high
Resistance 4: 1.3350 figure
Resistance 5: 1.3388, 2018 high
Resistance 6: 1.3543 June 9, 2017 swing high

Support 1: 1.3100-1.3120 figure and supply/demand level
Support 2: 1.3053-1.3066 area, June 5 swing high and July 9 low
Support 3: 1.3022 July 25 low
Support 4: 1.3000 figure
Support 5: 1.2974 August 1 swing low
Support 6: 1.2900 figure
Support 7: 1.2855 June 6 low

Author

Flavio Tosti

Independent Analyst

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