USD/CAD Technical Analysis: Bears keep USD/CAD below 1.3100 figure

• USD/CAD is trading down for the second consecutive day as USD/CAD couldn’t sustain prices above the 1.3120-1.3155 zone and the daily bearish trendline. Bears are now keeping USD/CAD below the 1.3100 figure and the next scaling points to the downside are located near 1.3053-1.3066 area. 
• Bulls need to recapture the 1.3120-1.3155 zone but the current short-term bearish momentum seems to prevail for now as the 50-period simple moving average crossed below the 200-period SMA on the 15-minute chart. 

USD/CAD 15-minute chart

USD/CAD daily chart

Spot rate:                   1.3094
Relative change:        -0.30% 
High:                          1.3138
Low:                           1.3068

Trend:                                 Bullish 
Short-term Trend:               Bearish below 1.3120-1.3155 area

Resistance 1:            1.3100 figure 
Resistance 2:            1.3120-1.3155 area, supply/demand level and June 18 low
Resistance 3:            1.3200 figure  
Resistance 4:            1.3271 June 29 high 
Resistance 5:            1.3350 figure
Resistance 6:            1.3388, 2018 high
Resistance 7:            1.3543 June 9, 2017 swing high

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

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