USD/CAD Price Analysis: 1.3550 is eyed on the new impules

• USD/CAD corrects into key support and bulls move in.
• USD/CAD bulls eye a bullish continuation towards 1.3550.

As per the last analysis whereby we had, USD/CAD bulls moving in to test above 1.3500, the market has moved in on the area and bulls remain in control as the following illustrates:

USD/CAD prior analysis

The bulls have moved in at a 50% mean reversion mark with 1.3600 eyed. 

USD/CAD update

The W-formation is a reversion pattern whereby the current rally will be monitored for deceleration on the lower time frames for a bearish structure. However, the bulls remain front side of the bullish trendline:

USD/CAD H4 chart

In being front side of the bullish trend, we could draw a thesis that there can be a bullish continuation towards 1.3550.