USDCAD H12 US Dollar/Canadian DollarFX:USDCADWinlouhUSDCAD H12 summary Bias: Bullish reversal from support, with upside continuation favored if the current base holds. What the chart shows Price has been correcting lower from the April high into a rising support area around 1.3550–1.3600. The chart marks a likely bounce from the trendline/base, followed by an impulsive move higher. Current price is around 1.3604, sitting close to the projected launch area. The structure suggests this is a buy-from-discount idea rather than a breakout chase. Key levels Current price: 1.36044 Immediate support / reaction zone: around 1.3550–1.3600 Major lower invalidation: 1.34519 Upside targets: 1.37177 1.38002 1.39251 1.39656 Likely scenario from your markup Price finishes basing near the current support zone. Buyers step in from the rising trendline. Price expands upward through: 1.3718 1.3800 If momentum remains strong, continuation reaches 1.3925–1.3966. Why the chart leans bullish Price is reacting from a structurally important support area. The projected move treats the recent selloff as a retracement into demand. There is clear upside room back into prior horizontal resistance levels. Risk / invalidation If price loses the current support base and starts accepting below 1.3550, the bullish setup weakens. A deeper break toward or below 1.34519 would likely invalidate the rebound thesis and suggest broader weakness.