USD/CAD Technical Analysis: Bears are keeping the market under pressure below 1.3000 post-Bank of Canada rate hike

• USD/CAD broke below the 200-period simple moving average after the drop caused by the Bank of Canada rate hike.  
• USD/CAD has also broken below the 1.3000 figure as the bears are keeping the pressure intact. Technical indicators remain bearish.  
• Targets to the downside can be seen near 1.2950 and 1.2900 figure.  

USD/CAD 4-hour chart

Spot rate:                   1.2977
Relative change:        -0.84%  
High:                          1.3101
Low:                           1.2975

Main trend:                Neutral  

Resistance 1:            1.3000 figure
Resistance 2:            1.3083 September 27 swing high
Resistance 3:            1.3108, September 7 low
Resistance 4:            1.3150 figure
Resistance 5:            1.3200 figure

Support 1:                 1.2950-59 multi-month key level and August 7 low
Support 2:                 1.2900 figure
Support 3:                 1.2800 figure