USDCAD, H4 bullish breakout, potential for further rise

Price has just seen a bullish breakout from the descending trendline resistance, and is now holding above the moving average support in line with our bullish bias. We could potentially see price rise further above our Pivot, in line with 38.2% Fibonacci retracement, 50% Fibonacci extension and horizontal pullback support, towards 1st Resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance.