USD/CAD Finally Reached the Resistance at 1.2950

USD/CAD found support at 1.2600 and has steadily been climbing for a few days now, and while it seemed that the move to the upside might be over when the pair formed a hanging man candlestick on the daily time-frame, that expectation proved false when the US change in Non-farm Payrolls was announced today. The pair finally reached the resistance at 1.2950, but now the question is whether it will be able to break above it. If it does break above it there will likely a be a new move to the upside towards the next major resistance level at 1.3180, which coincides with (MA)89 on the daily time-frame. On the other hand, if the pair bounces off the resistance at 1.2950 it will probably start falling towards the support at 1.2730 – 1.2700.