USDCAD H1: Bullish outlook seen, further upside above 1.3650

On the H1 time frame, prices are testing the support zone at 1.3650, in line with the graphical support and 38.2% Fibonacci retracement where we could see a further upside above this level. A break above our upside confirmation level at 1.3720 which is also a supply zone could provide the bullish acceleration to the resistance zone at 1.3800. Failure to hold above the 1.3650 support zone could see prices push lower to the next support zone at 1.3550.