USD/CAD Technical Analysis: October Wedge still in play - Bears capping the market below 1.3150 level

• USD/CAD is trading in a bull trend above its 200-period simple moving average (SMA) on the 4-hour chart. 
• USD/CAD is evolving in a monthly wedge. Chances are that bulls will not be able to break and close above 1.3150 as the Stochastic is already in overbought territories. 
• Targets to the downside are likely located near 1.3108 (September 7 low), 1.3083 (September 27 swing high) and 1.3053 (October 15 high). 

USD/CAD 4-hour chart

Main trend:                Bullish
Short-term trend:       Bearish

Resistance 1:            1.3161 October 26 high
Resistance 2:            1.3200 figure
Resistance 3:            1.3300 figure

Support 1:            1.3108, September 7 low
Support 2:            1.3083 September 27 swing high
Support 3:            1.3053 October 15 high
Support 4:            1.3000 figure
Support 5:            1.2950-59 multi-month key level and August 7 low

Additional key levels at a glance: