The USD/CAD currency pair has been moving sideways within a narrow range between 0.9870-0.9950 for two weeks until today.
Today we had a bullish breakout above 0.9950 which corresponds to the upper limit of both the violet and blue channels which is considered a bullish signal.
The USD/CAD has an important resistance area between 0.9998-1.0025 which is expected not to be broken before retesting the backside of the broken channels mentioned above.
Based on the previous analysis:
There's a bullish opportunity at re-testing level 0.9950 with SL 4H closure below 0.9905.
Profits should be taken at 0.9970, 1.0020 and 1.0060.
