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  • USD/CAD bull leg is losing steam as it is finding resistance at the 1.3000 figure and the 200-period simple moving average on the 4-hour chart.  
  • A break below 1.2950 should initially target 1.2900 figure and possibly 1.2800 if the bears have enough fuel.  
  • A bull breakout above 1.3000 would invalidate the bearish bias.  

USD/CAD 4-hour chart  

Spot rate:                   1.2967
Relative change:        0.04%  
High:                          1.3003
Low:                           1.2951

Main trend:                Neutral

Resistance 1:            1.3000 figure
Resistance 3:            1.3048 August 14 low
Resistance 4:            1.3108, September 7 low
Resistance 5:            13200 figure
 
Support 1:                 1.2950-59 multi-month resistance and August 7 low
Support 2:                 1.2882-1.2900 September 20 low and figure
Support 3:                 1.2855-65 June 6 low – 200-day SMA
Support 4:                 1.2800 figure
Support 5:                 1.2727 May 11 low