USD/CAD Technical Analysis: Make or break near 1.3100 figure ahead of Bank of Canada rate decision on Wednesday

• USD/CAD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart.
• USD/CAD is trading in a tight 50-pip range just below the 1.3100  figure as investors are positioning themselves ahead of the Bank of Canada rate decision on Wednesday.  
• USD/CAD remains bullish but will need a break above 1.3100 figure or else the market is likely to collapse towards the 1.3000 level.  

  USD/CAD 4-hour chart

Spot rate:                   1.3100
Relative change:        0%  
High:                          1.3122
Low:                           1.3082

Main trend:                Bullish  

Resistance 1:            1.3108, September 7 low
Resistance 2:            1.3150 figure
Resistance 3:            1.3200 figure

Support 1:                 1.3083 September 27 swing high
Support 2:                 1.3048 August 14 low
Support 3:                 1.3000 figure
Support 4:                 1.2950-59 multi-month key level and August 7 low