USD/CAD Technical Analysis: Mission accomplished as USD/CAD hits 1.3070 level

• USD/CAD is trading in a bear channel within the main bull trend.
• USD/CAD is consolidating after the market reached the 1.3048-1.3066 area (August 14 low and July 9 low). USD/CAD reached its average daily range so more consolidation is likely before any new meaningful directional move.
• A consolidation in the 1.3000-1.3070 area is likely for the rest of Friday.

USD/CAD 4-hour chart

Spot rate:                   1.3043
Relative change:        0.46% 
High:                          1.3074
Low:                           1.2968

Trend:                         Bullish 

Resistance 1:            1.3048-1.3066 area, August 14 low and July 9 low
Resistance 2:            1.3100 figure 
Resistance 3:            1.3120-1.3155 zone, supply/demand level and June 18 low
Resistance 4:            1.3172 August 13 swing high 

Support 1:                 1.3022 July 25 low
Support 2:                 1.3000 figure
Support 3:                 1.2984 August 29 swing low 
Support 4:                 1.2959 August 7 swing low
Support 5:                 1.2920 supply level 
Support 6:                 1.2900 figure
Support 7:                 1.2857 June 6 low
Support 8:                 1.2800 figure