USD/CAD Technical Analysis: 1.2885 bear target mission accomplished - 1.2800 figure can be next on the bears' radar

• USD/CAD main bull trend is on hold since late June. 
• As anticipated USD/CAD reached 1.2885 (August 28 swing low). While USD/CAD might have a bounce at the current support, the bias remains bearish with the 50-period simple moving average (SMA) crossing below the 100 and 200-period SMA. 
• If the bears break below 1.2885 support then 1.2855-65 (June 6 low - 200-day SMA) and 1.2800 figure can be next on the radar. However, since USD/CAD is oversold the move down might come next week.

USD/CAD 4-hour chart

Spot rate:                   1.2901
Relative change:       -0.11% 
High:                          1.2932
Low:                           1.2884

Trend:                        Bullish 
Short-term trend:       Bearish

Resistance 1:            1.2959 August 7 low
Resistance 2:            1.3000 figure
Resistance 3:            1.3048 August 14 low
Resistance 4:            1.3108, September 7 low 
 

Support 1:            1.2885 August 28 swing low
Support 2:            1.2855-65 June 6 low - 200-day SMA
Support 3:            1.2800 figure