USD/CAD Technical Analysis: It is a slow grind up

• USD/CAD main bull trend has transitioned to neutral as the market broke below the 200-day simple moving average (SMA) on the daily time-frame. 
• The 1.2800 figure has been holding since Monday while USD/CAD is trading relatively far away from its simple moving averages, suggesting a potential return to the mean in the near-future. The RSI indicator left the oversold condition while the Stochastics is trading up sharply. The MACD is slowly turning bullish as the MACD line crossed above the moving average on the MACD indicator (orange line). USD/CAD will also need to break above the bearish trendline (green) to gain positive momentum. All-in-all a rebound to 1.2882-1.2900 (September 20 low and figure) remains on the radar for bulls.
• A bear breakout below 1.2800 would invalidate the short-term bullish bias.   

USD/CAD 4-hour chart

Spot rate:                   1.2828
Relative change:        0.05% 
High:                          1.2845
Low:                           1.2805

Main trend:                Bullish to neutral

Resistance 1:            1.2855-65 June 6 low - 200-day SMA
Resistance 2:            1.2882 September 20 low
Resistance 3:            1.2959 August 7 low
Resistance 4:            1.3000 figure
Resistance 5:            1.3048 August 14 low
Resistance 6:            1.3108, September 7 low
Resistance 7:            13200 figure
 
Support 1:                 1.2800 figure
Support 2:                 1.2727 May 11 low
Support 3:                 1.2600 figure