FXstreet.com (Barcelona) - After a fast attempt to break the 1.3020 resistance level and climb up to the new 4 years high at 1.3064, the USD/CAD has fallen near to 130 pips to the 1.2930 level.
Currently, the pair is fighting to break the 1.2950 support, if the rejection movement is confirmed and the pair breaks the 1.2950 support successfully, the pair will go down to the 1.2905/15 support and it will be trading around the congested band between 1.2900/1.2800. On the uptrend side, If the Pair gets to go up again and break the 1.3020 level, it will climb to 1.3065 resistance level and the pair set a fresh 4 year high. Next resistance could be the 1.3165 level (Oct 2004 high) and above there the 1.3350 (Aug 2004 high) looks like an important level.
According to Mataf.net Team, the USD/CAD is under bullish pressure: 1,3045. USD CAD broke 1,2915 resistance. The volatility rises. Bollinger bands are deviated. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The uptrend should continue to gather momentum.