USD/CAD Technical Analysis: USD/CAD drops below weekly lows testing 1.3250 level

• USD/CAD dropped below the weekly low at 1.3267 and is currently testing the 1.3250 level.  
• A strong bear breakout below the level can open the gates to the 1.3200 figure.  
• However, if the bears fail to push the market below 1.3250, the market can pick up steam once again and trade back up towards the 1.3300 figure.

USD/CAD 15-minute chart

Spot rate:                   1.3254

Relative change:        -0.65%
 
High:                          1.3353
Low:                           1.3244

Trend:                         Neutral

Resistance 1:            1.3300 figure
Resistance 2:            1.3350 figure
Resistance 3:            1.3388, 2018 high
Resistance 4:            1.3543 June 9, 2017 swing high

Support 1:                 1.3267-1.3250 current week’s low and figure
Support 2:                 1.3200 figure
Support 3:                 1.3155 former supply/demand level