USD/CAD Technical Analysis: US Dollar breaks below 1.3100 against the Loonie as more bearish pressure is on the cards

• USD/CAD is trading in a bull trend above its 200-period simple moving average (SMA) on the 4-hour chart. 
• USD/CAD is testing the bull trendline and the 100 SMA. The RSI, MACD and STochastic indicator are negative. All suggesting continued bearish momentum.
• Targets to the downside are likely located near 1.3053 (October 15 high) and 1.3000 figure. 

USD/CAD 4-hour chart

Main trend:                Bullish

Short-term trend:      Bearish

Resistance 1:            1.3083 September 27 swing high
Resistance 2:            1.3108, September 7 low
Resistance 3:            1.3161 October 26 high
Resistance 4:            1.3200 figure
Resistance 5:            1.3300 figure

Support 1:            1.3053 October 15 high
Support 2:            1.3000 figure
Support 3:            1.2950-59 multi-month key level and August 7 low

Additional key levels at a glance: