USD/CAD Technical Analysis: Back above 1.3155 key support

• USD/CAD tried to breakout above the 1.3200 level in early Europe but the market decided to reverse down before reaching the figure.
• USD/CAD is now back just above 1.3155 which acted as an important support/resistance level in the past weeks.  
• As USD/CAD is increasingly range bound, the directionality of the currency pair stays uncertain. However, a strong bear breakout below 1.3120 could open the doors to further losses towards 1.3066-1.3053 area.

USD/CAD 15-minute chart

Spot rate:                   1.3166
Relative change:         -0.05%  
High:                          1.3193
Low:                           1.3139

Trend:                         Neutral

Resistance 1:            1.3200 figure  
Resistance 2:            1.3271 June 29 high  
Resistance 3:            1.3350 figure
Resistance 4:            1.3388, 2018 high
Resistance 5:            1.3543 June 9, 2017 swing high

Support 1:                 1.3155 June 18 low
Support 2:                 1.3120 demand level
Support 3:                 1.3066-1.3053 July 9low and June 5 swing high
Support 4:                 1.2974 May 9 high
Support 5:                 1.2900 figure