The USD/CAD pair movement is almost sideways during the previous days of consolidation which is manifested in the transverse direction of the Yellow channel depicted on the chart.
In fact, there's no obvious price action today. However, bullish breakout above the upper limit of the bearish Violet channel took place earlier today which favors the bullish side of the market.
The lower limit of the Yellow channel is located around the price level of 0.9980 where the backside of the broken violet channel is also placed rendering BUYING at hitting 0.9985, a valid opportunity with SL located below 0.9960.
TP levels are to be located at 1.0030 then 1.0080.
