USD/CAD Technical Analysis: Inevitable drop to 1.2960 level

• USD/CAD main bull trend is taking a breather as USD/CAD is trading at its lowest in six days. 
• USD/CAD broke below the ascending bull trendline leaving the door open to a drop to 1.2959 August 7 swing low. 
• A sustained bull breakout above 1.3120-1.3155 area would negate the short-term bearish bias.

USD/CAD daily chart 

Spot rate:                   1.3017
Relative change:         -0.23% 
High:                          1.3050
Low:                           1.3012

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

Resistance 1:            1.3048-1.3066 area, August 14 low and July 9 low
Resistance 2:            1.3100 figure 
Resistance 3:            1.3120-1.3155 area, supply/demand level and June 18 low

Support 1:                 1.3022 July 25 low
Support 2:                 1.3000 figure
Support 3:                 1.2959 August 7 swing low

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