USD/CAD 1H Chart: Channel Up

Source: Dukascopy Bank SA
USD/CAD has been making its way away from the low posted on May 2016 and the recent wave up has resulted in the formation of an ascending channel pattern which has not yet showed any signs of weakness. The pair is on a flattish motion towards the bottom trend-line of the pattern, and is most likely to reach it around 1.3526. The cross is about to enter an Ichimoku cloud which might continue to flatten out the motion until the next wave up is initiated. While upside potential is limited by 1.3596, we will loot look for it to come into play in our base scenario.
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