USD/CAD Technical Analysis: Breaking to weekly lows below 1.3100 level

• USD/CAD broke below the 1.3120 support and 1.3100 figure ahead of the Trump-Juncker meeting at 17:30 GMT which can affect USD-realted pairs. The EIA crude oil stocks change at 14:30 GMT can also have an effect on CAD oil-correlated currency.
• USD/CAD is trading below all its main simple moving averages (50, 100 and 200 SMA) suggesting a bearish bias.  
• The next targets to the downside are likely located near the 1.3066-1.3053 area, the July 9 low and June 5 swing high. Resistances to the upside are the 1.3100 figure and the 1.3120 resistance level.

USD/CAD 15-minute chart  

Spot rate:                   1.3091
Relative change:        -0.49%  
High:                          1.3168
Low:                           1.3083

Trend:                         Bearish

Resistance 1:            1.3100-1.3120 figure and supply/demand level
Resistance 2:            1.3155 June 18 low
Resistance 3:            1.3200 figure  
Resistance 4:            1.3271 June 29 high  
Resistance 5:            1.3350 figure
Resistance 6:            1.3388, 2018 high
Resistance 7:            1.3543 June 9, 2017 swing high

Support 1:                 1.3066-1.3053 July 9 low and June 5 swing high
Support 2:                 1.2974 May 9 high
Support 3:                 1.2900 figure