USD/CAD 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. Dollar has gained inspiration to advance against its Canadian counterpart in mid-October after it hit a one-month low. Since then, the pair has been advancing, vacillating between two gradually converging upward-sloping lines.
At the moment, USD/CAD seems not to lose its spree after unsuccessful attempt to break through the upper limit of the rising wedge pattern as the currency couple ventured to jump above the pattern boundary for the second time. If the breakout proves to be real, the U.S. Dollar is likely to soar against the Canadian currency before long.
© Dukascopy Bank SA
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