USD/CAD Technical Analysis: Double top forming as the Greenback is losing steam near October highs – Ready for a pullback to 1.3000 figure

• USD/CAD bear is losing steam near 1.3050 unable to break  above the October high.  
• If bulls don’t retake control of the market the market is likely to form a double top with a potential move down towards 1.3000 in the coming session.  
• Alternatively, a strong breakout above 1.3050 would invalidate the bearish bias.  

USD/CAD 4-hour chart  

Spot rate:                   1.3025
Relative change:        0.1%  
High:                          1.3056
Low:                           1.3013

Main trend:                Neutral  

Resistance 1:            1.3048 August 14 low
Resistance 2:            1.3083 September 27 swing high
Resistance 3:            1.3108, September 7 low
Resistance 4:            1.3200 figure

Support 1:                 1.3000 figure
Support 2:                 1.2950-59 multi-month key level and August 7 low
Support 3:                 1.2914 October 16 low
Support 4:                 1.2882-1.2900 zone September 20 low and figure
Support 5:                 1.2855-65 June 6 low – 200-day SMA
Support 6:                 1.2800 figure
Support 7:                 1.2727 May 11 low