USD/CAD Technical Analysis: Bear channel targets a break below 1.3000 figure

• USD/CAD bull trend is on hold since June 27 as the pair is in  pullback mode.  
• USD/CAD is trading below its main simple moving averages and below 1.3020. Bears are at work trying to form a bear channel. Bear targets are 1.3000 and 1.2959 August 7 swing low.  
• A bull breakout above 1.3070 would invalidate the short-term bearish bias.  

USD/CAD 15-minute chart

Spot rate:                   1.3010
Relative change:        -0.07%  
High:                          1.3069
Low:                           1.3006

Trend:                         Bullish  
Short-term trend:        Bearish below 1.3070

Resistance 1:            1.3022 July 25 low
Resistance 2:            1.3048-1.3066 area, August 14 low and July 9 low
Resistance 3:            1.3100 figure  
Resistance 4:            1.3120-1.3155 zone, supply/demand level and June 18 low
Resistance 5:            1.3172 August 13 swing high  

Support 1:                 1.3000 figure
Support 2:                 1.2959 August 7 swing low
Support 3:                 1.2900 figure