USD/CAD: Technical Analysis: Bull breakout above 1.3000, next target the 1.3100 handle

• USD/CAD keeps grinding higher but bulls will need to keep the market above the 1.3000 handle if they don’t want the bears to create a reversal back toward 1.2900.
• The next objective for bulls is the 1.3124 level which is the high established on March 19. 

USD/CAD 15-minute chart

Spot rate:                          1.3013
Relative change:              0.15%     
High:                                  1.3048
Low:                                   1.2968

Trend:                                Bullish

Support 1:                        1.2990, last week’s high
Support 2:                        1.2917 swing high (May 24)
Support 3:                        1.2800 psychological figure
Support 4:                        1.2740 swing low (May 22)

Resistance 1:                  1.3048 current Tuesday’s high
Resistance 2:                  1.3100-1.3124 area, handle and March 19 high,  
Resistance 3:                  1.3360 supply level, swing low May 25, 2017