USD/CAD faces strong resistance at 1.2965, break above targets 1.3035

• Major resistance – 1.2965 (Aug 22nd high).
   
• Major support – 1.2887 (200 HMA).
   
• Lonnie formed a double top around 1.2965 and declined from that level. It is currently trading around 1.29160.
   
• USD/CAD has shown a dip till 1.28990 at the time of writing and recovered from that level.
   
• Oil has fallen yesterday on record crude and gasoline inventory rise in the previous week.
   
• USD/CAD should break above 1.2965 for the further bullishness. Any break above 1.2965 will take the pair to next level till 1.3033 (61.8% retracement of 1.32004 and 1.27638)/1.30796.the minor resistance is around 1.2927 (100-day MA).
   
• On the lower side, any break below 1.2887 (200 HMA) will drag the pair down till 1.2855/1.2800/1.2765.

It is good to buy above 1.2927 with SL around 1.2855 for the TP of 1.3033/1.30796.