USD/CAD Technical Analysis: Pullback over

• The USD/CAD pair has created a bull flag (bullish continuation pattern) on a 15-minute chart.
• An upside break of the bull flag would add credence to the bullish divergence of the relative strength index (RSI) seen in the hourly chart and would indicate the pullback from the June 27 high of 1.3386 is over.

15-minute chart

Hourly chart

Spot Rate: 1.3110

Daily High:.3117

Daily Low: 1.101

Trend: Bullish

Resistance

R1: 1.3123 (100-hour MA)

R2: 1.3161 (resistance on hourly chart)

R3: 1.3169 (200-hour MA)

Support

S1: 1.3106 (50-hour MA)

S2: 1.3066 (recent low)

S3: 1.30 (psychological level)