USD/CAD Price Analysis: Bulls meet resistance in 1.2740s, focus is back on the downside

• USD/CAD bears moving in at resistance on the daily chart. 
• Support in the 1.2650s is now eyed. 

Despite the surge in the price of global oil and energy prices, CAD has so far failed to benefit vs. the greenback, at least. The US dollar has rallied in a risk-off setting which has weighed on the loonie. However, USD/CAD now meets a wall of resistance which puts the emphasis on the downside. 

As per the prior analysis, USD/CAD Price Analysis: Bulls move in and eye the 1.2740s, the pair has reached the target area in volatile trade on Tuesday. 

USD/CAD daily chart, prior analysis

USD/CAD live market, daily chart

Should the bears commit at this juncture, there is a void that could be filled towards the daily trendline support between the 1.2650s and 1.2550s: