USD/CAD Is Bullish

USD/CAD remains quite bullish after a relatively brief sideways consolidation between 1.2810 and 1.2860 which formed a spinning top candlestick on the daily time-frame. The pair broke out above 1.2860 today and continued rising, currently it is testing the next resistance at 1.2900. It is also important to point out that USD/CAD has broken out above the (MA)89 indicator on the weekly time-frame, which is at 1.2830. The move to the upside will probably continue once the pair breaks out above 1.2900 and next target will likely be around 1.2970. A breakout above that level could lead to a further move to the upside towards the last high at 1.3125.