USD/CAD Technical Analysis: Lonnie trading near 1.3000 level, unable to break the 7-week range

• USD/CAD bulls lifted  the currency pair to 1.3013 but found resistance as the market failed to break above last Friday’s high.  
• USD/CAD has been range bound between 1.2750 and 1.3050 in the last seven weeks as investors  are using trading range  strategies.  
• However, on the broader picture USD/CAD has a bullish bias as it is trading above a rising 50-period simple moving average (SMA) on the monthly time frame.  

USD/CAD 15-minute chart

Spot rate:                   1.3003
Relative change:         0.62%      
High:                          1.3029
Low:                           1.2953

Trend:                         Neutral

Resistance 1:            1.3029  current Monday’s high
Resistance 2:            1.3069 last  week’s high
Resistance 3:            1.3130 current high of 2018  

Support 1:                 1.2953  current Monday’s low, 5-period daily SMA
Support 2:                 1.2919 Last Friday’s low
Support 3:                 1.2857 June 6 low