USD/CAD Technical Analysis: USD/CAD breakout above one-year high reaching 1.3155

• USD/CAD broke to levels not seen since June 26, 2017  this Friday trading as high as 1.3155.  
• USD/CAD on the daily chart is breaking to the upside from a wedge pattern formation, if the bulls can sustain the momentum it can open the gates to a very strong bull trend in the coming weeks.  
• In the short-term 1.3121, Thursday’s high and  1.3069  last week’s high  can act as support .

USD/CAD 15-minute chart

Spot rate:                   1.3148
Relative change:        0.32%      
High:                          1.3155
Low:                           1.3097

Trend:                         Bullish

Resistance 1:            1.3155 current high of 2018  
Resistance 2:            1.3200 figure
Resistance 3:            1.3350 June 21, 2017 swing high

Support 1:                 1.3121 Thursday’s high
Support 2:                 1.3053-1.3069 last breakout point, last week’s high
Support 3:                 1.3000-1.3020 figure and former congestion zone
Support 4:                 1.2947 current week’s low and 5-period daily SMA