USD/CAD Technical Analysis: Bulls don’t give up as they look at 1.3000 target

• USD/CAD main bull trend is on hold since late June, however, bulls have created a double bottom with the August lows.
• The RSI and the MACD indicators are rising while the bulls are challenging the bear trendline (green).
• Bulls objective is to reach the 1.3000 figure and possibly 1.3048 August 14 low if the bulls gather enough steam.

USD/CAD 4-hour chart

Spot rate:                   1.2950
Relative change:         -0.05%  
High:                          1.2974
Low:                           1.2933

Main trend:                        Bullish to Neutral

Resistance 1:            1.2959 August 7 low
Resistance 2:            1.3000 figure
Resistance 3:            1.3048 August 14 low
Resistance 4:            1.3108, September 7 low  
 

Support 1:            1.2885 August 28 swing low
Support 2:            1.2855-65 June 6 low – 200-day SMA
Support 3:            1.2800 figure